Deltron Electronics - Acquisition
July 06 1998 - 3:30AM
UK Regulatory
RNS No 8897m
DELTRON ELECTRONICS PLC
6th July 1998
Deltron Electronics plc
Acquisition of French filter business
Deltron Electronics plc ("Deltron"), the Pan-European
specialist distributor and manufacturer of electromechanical
components, today announces the acquisition of the business of
Semap, a French based manufacturer and distributor of electro
magnetic compatibility (EMC) filters.
Deltron has acquired the assets, business and goodwill of Semap
for an initial cash consideration of FFr 10m (#0.99m) paid from
existing cash resources. Further cash consideration will be
payable of up to a maximum of FFr 5.355m (#0.53m) dependent upon
the level of audited net assets of the Semap business as at 30
June 1998. For the year ended 31 December 1997, Semap SA, as part
of Talma Group (a privately owned industrial & property group)
generated a loss before taxation of FFr 0.924m (#0.091m) on
turnover of FFr 24.1m (#2.38m). Net assets at that date amounted
to FFr 5.4m (#0.533m). The Directors of Deltron expect that the
trading operation acquired will make a contribution to Group
profit during its first 12 months of ownership.
The demand for EMC filters, which are used to reduce the level
of electro magnetic interference from electrical appliances,
is growing rapidly driven in large part by changes in legislation
particularly within the EU. It is estimated, for example, that
the amount of electro magnetic pollution in the environment is
doubling every two years.
Through its Roxburgh EMC subsidiary, Deltron has already
established a solid international reputation and customer base
and the addition of Semap together with the recent signing of a
distribution agreement with DIT of Korea completes the EMC
product offering in France. EMC customers of the enlarged group
include Eurotherm, Hitachi, Mitsubishi, Reliance, Rockwell
Automation and Group Schneider.
Chris Sawyer, Chief Executive of Deltron, commented.........."Our
strategy is to become a market leader in each of our selected
product areas and the acquisition of Semap takes us a step closer
to achieving this in EMC filters."
........."Having taken a conscious decision to expand into
Europe - Semap will be our third European acquisition in just
over a year - we will continue to take advantage of the presently
high level of sterling to extend our presence outside the UK."
---------------------------------------------------------------
For further information contact:
Christopher Sawyer (01638) 561156
Chief Executive, Deltron Electronics plc
Tim Anderson/Andy Yeo (0171) 466 5000
Buchanan Communications
END
ACQRJMFBLLAMBIP
Debts.Co.Uk (LSE:DET)
Historical Stock Chart
From Jun 2024 to Jul 2024
Debts.Co.Uk (LSE:DET)
Historical Stock Chart
From Jul 2023 to Jul 2024