30th Oct 2006 08:33
Interior Services Group PLC30 October 2006 Interior Services Group plc Completion of Acquisition of ISG Asia Further to the announcement made on 11 July 2006, Interior Services Group plc("ISG") the construction services specialist, announces the completion of theacquisition of the operating businesses of ISG Asia Limited, in which itformerly had a 22% shareholding. For the year to December 2005, the businessesacquired recorded turnover of S$99m and profit before tax and management fees ofS$2.5m. ISG Asia employs 280 people and provides a range of services that includeproject management, construction and facilities management, through a network ofoffices in eight cities - Singapore, Hong Kong, Tokyo, Kuala Lumpur, Shanghai,Macau, Seoul and Dubai. Clients include major banks and multinational firms suchas Credit Suisse, Hilton International, Shell, Lehman Brothers, Fitness Firstand Cisco Systems. Recent and ongoing projects include the Asia-Pacificheadquarters for Deutsche Bank in Singapore, a 250,000 sq ft fit-out for the NewStraits Times in Kuala Lumpur, a major project for Standard Chartered Bank inDubai and the Hanazono ski village in Japan. David Lawther, Chief Executive of ISG commented, " This is an important step for the future of the Group. ISG Asia has a verygood reputation in its markets and the opportunity for our services in Asia isvast. This acquisition will enable us to service multi-national clientsthroughout the region, as they expand into new Asian territories. The businesshas an excellent team which we have worked with for a number of years. As afully integrated part of ISG, we are confident that the business will continueto grow and will benefit from our expertise and customer relationships. Gary Allin, Managing Director of ISG Asia said, " We are delighted to be part of ISG. This is a crucial time in our expansionand with the support of the team at ISG, I am sure that we will continue to makegreat strides in the development of the business." - ends - Date: 30 October 2006For further information please contact: Interior Services Group PLCDavid Lawther, Chief Executive 020 7392 5307Jonathan Houlton, Group Finance Director 020 7392 4905Web: www.isgplc.com cityPROFILESimon Courtenay 020 7448 3244 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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