Eleco Hldgs PLC - Acquisition Completion
December 18 1997 - 2:30AM
UK Regulatory
RNS No 8166v
ELECO HOLDINGS PLC
18th December 1997
Acquisition of Tergor Electronics Limited
The Board of Eleco Holdings plc ("Eleco") announces the
completion today of the acquisition of the entire issued
share capital of Tergor Electronics Limited ("Tergor"), for
a cash consideration of #320,000.
Tergor, which supplies electronic components for on-board
marine communication systems, had net assets of #200,000 at
31 July 1997, the date of its last audited accounts, and
reported a profit before tax of #119,000 for the year then
ended.
John Ketteley, Executive Chairman of Eleco, commented:
"The acquisition of Tergor will complement the activities
of our successful Abtus subsidiary, which supplies
specialist marine lighting equipment. The combined
businesses will benefit from Abtus' ability to satisfy
Tergor's machining needs and from a joint selling approach
to their common customer base."
For further information contact:
John Ketteley
Executive Chairman, Eleco Holdings plc Tel: 01992 440 311
David Dannhauser
Finance Director, Eleco Holdings plc Tel: 01992 440 311
David Millham
Millham Communications Tel: 0171 256 5756
END
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