ROR Rotork Plc

RNS No 4538p
ROTORK PLC
22nd March 1999
                                ROTORK p.l.c.
                                      
                                      
Rotork p.l.c., the actuator and systems engineer, announces the acquisition
of Fluid System S.r.l. ("Fluid System") and MPM Holding S.r.l. (a holding
company whose assets are 80% of the share capital of Fluid System).
 
Fluid System, based in Lucca, Italy, designs and manufactures hydraulic and
pneumatic actuators which it markets internationally.
 
The purchase price is a maximum of #7.5m with #5.25m payable immediately in
cash and the remainder satisfied by deferred payments payable over the
following 2 years of which #0.7m is payable subject to attainment of profit
targets.
 
Fluid System's net assets (unaudited) on 31 December 1998 were #0.15m.  Sales
for the year ended 31 December 1998 were #8m (unaudited) and profit before
owner's emoluments and tax, financing charges and interest was #1.5m.
 
Fluid System's Managing Director, Sr. Carlo Marianetti, has agreed to enter
into a service contract with a minimum 2 years duration.
 
Commenting on the announcement, Rotork's Chief Executive, Bill Whiteley,
said:
 
"I am delighted with this important strategic acquisition for Rotork, which
significantly strengthens our fluid power activities.  Fluid Systems produces
a range of products for the oil and gas markets which complement those
produced by our existing North American operation.  It also strengthens the
Group's presence in the internationally important Italian market."
                                      
Enquiries:     Bill Whiteley
               Rotork p.l.c                  Tel:  01225 733 200
 
               Tom Baldock
               Financial Dynamics            Tel:  0171 831 3113
 
END

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