14th Jun 2007 07:02
Newmark Security PLC14 June 2007 Newmark Security PLC ("Newmark" or "the Company") Trading Update London, UK, Tuesday 12 June, 2007 - Newmark, a leader in the supply ofhigh-value integrated security solutions is pleased to announce the strategicmerger of two of its wholly owned subsidiaries Grosvenor Technology and CustomMicro Products. The two companies will merge under the name of GrosvenorTechnology and continue to operate from their facilities in Bishop's Stortfordin Hertfordshire and Poole in Dorset. The remit of the newly combined business is to provide innovative products andservices targeted directly to the needs of key channels within the accesscontrol and data-logging industries and in making the announcement, MauriceDwek, Chairman of Newmark Security PLC, said: "The merger brings together twocompanies whose reputations have been built on innovation, customer service andquality of execution." Derek Blethyn, Managing Director of the ElectronicDivision, continued: "Combining the two businesses under one brand enables us tobetter position the company to meet the future needs of our customers. Thedevelopment proposition is an easier migration to newer and more powerfultechnologies and the opportunity for wider and greatly enhanced productofferings. The merger also offers best use of company synergies and consistencyof application with more efficient systems and procedures throughout. To thisend it is envisaged that we will embark upon a staff restructuring process assoon as the merger has been completed." Mr Blethyn concluded: "This combinationis the next logical step for both organisations to provide value to their jointcustomer base, and by focusing on teamwork both internally and with our clientsand suppliers I believe it will be of long lasting benefit to all. Enquiries: Maurice Dwek, ChairmanNewmark Security plc 020 7355 0070 Mark PercySeymour Pierce Limited 0207 107 8000 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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