TIDMROR
RNS Number : 2407M
Rotork PLC
20 May 2010
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20 May 2010
Rotork plc
Acquisition of Ralph A. Hiller Company Inc.
Rotork plc, the world leading actuator manufacturer, is pleased to announce the
acquisition of Ralph A. Hiller Company Inc. (Hiller) a designer and manufacturer
of nuclear actuators and distributor of related products based in Pittsburgh,
Pennsylvania, United States.
The total consideration for the acquisition of the entire issued share capital
and facility of Hiller is $7.8 million payable in cash. Approximately $1.3
million of the consideration is deferred and payable over the next 19 months.
Hiller's financial year end accounts for the year ended 30 September 2009 shows
turnover of US$14.6 million and profit before tax of US$421,000.
Commenting on the acquisition, Peter France, Group Chief Executive of Rotork,
said:
"Hiller is a professionally managed designer and manufacturer of pneumatic and
hydraulic nuclear actuators and a distributor of related products, established
in 1950 with an excellent reputation for supplying quality products to its
chosen markets.
"Hiller will sit within Rotork's Fluid Systems division and provide the group
with a range of additional complementary nuclear products which will be sold
through existing sales channels and Rotork's worldwide network of sales offices.
This acquisition supports the group's strategy of expanding its nuclear
capability."
For further information, please contact:
+------------------------------+------------------------------+
| Rotork plc | |
| | |
+------------------------------+------------------------------+
| Peter France, Chief | Tel: 01225 733300 |
| Executive | |
+------------------------------+------------------------------+
| Jonathan Davis, Finance | Tel: 01225 733224 |
| Director | |
+------------------------------+------------------------------+
| | |
+------------------------------+------------------------------+
| Financial Dynamics | Tel: 020 7831 3113 |
+------------------------------+------------------------------+
| Jon Simmons | |
+------------------------------+------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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