Rotork PLC - Acquisition
04 Fevereiro 1998 - 8:30AM
UK Regulatory
NS No 5600b
ROTORK PLC
4th February 1998
ROTORK p.l.c.
ACQUISITION OF ALECTO VALVE ACTUATORS BV
Rotork p.l.c., the specialist engineering group, announces the acquisition of
Alecto Valve Actuators BV of Losser, Holland, a producer of manual gear
actuators.
The purchase price is NLG12,2m (#3.62m) with a further NLG0,6m (#0.18m)
payable in each of 1998, 1999 and 2000 if profits exceed NLG2,50m (#0.74m),
NLG2,75m (#0.82m) and NLG3,0m (#0.89m) respectively.
Net assets on 31 December 1997 were NLG5,23m (#1.58m). Alecto's sales for the
year ended 31 December 1997 were NLG11,03m (#3.34m) and profit before tax was
NLG2,64m (#0.80m).
Alecto Valve Actuators BV's managing director and co-founder, Harry Aalberts,
has entered into an initial three year service contract
Commenting on the announcement, Rotork p.l.c's chief executive, Mr Bill
Whiteley, said:
"I am delighted that we have acquired Alecto. One of Rotork's strategic
objectives has been to expand its valve gearbox business. Since the purchase
of Exeeco Limited in 1993 sales and profits from this activity have increased
rapidly and Alecto's range of complementary products should ensure further
growth. Rotork is experiencing very satisfactory worldwide growth from its
core business of valve actuation. This acquisition adds strength to its second
growth area of valve gearboxes and enhances the group's strong base in
continental Europe."
END
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