RNS No 4059x
SENIOR ENGINEERING GROUP PLC
2nd February 1998 
 
                     Acquisition of Bredan
 
Senior  Engineering  Group  plc is  pleased  to  announce  the
acquisition of Bredan Kompensator Fabrik A/S ("Bredan") for  a
cash  consideration  of approximately DKK49.5  million,  (#4.4
million).   In  the  year  ended  30  September  1997,  Bredan
produced operating profit (unaudited) of DKK4.4 million  (#0.4
million)  on  sales  of DKK53.5 million  (#4.7  million)  (ROS
8.2%).
 
The  exact consideration will depend upon the net asset  value
at  closing  which  it  is anticipated will  be  approximately
DKK25.7  million (#2.3 million) and will be financed from  the
Group's existing borrowing facilities.
 
Bredan,  founded  in 1973, is located in Ringkobing,  Denmark,
and  in  addition has a sales operation in Poland and a  small
joint   venture   in   Malaysia.  The   company,   which   has
approximately one hundred employees, designs, manufactures and
sells  a  premium line of specialty expansion  joints  to  the
district heating, marine and industrial markets.
 
This acquisition will add significant expansion joint presence
to  Senior's  rapidly  growing Flexonics Division,  increasing
both  the product range and the markets served.  Bredan,  with
more  than  twenty  years of experience,  has  established  an
excellent reputation for both quality and service.
 
Commenting  on  the  acquisition of  Bredan,  Andrew  Parrish,
Senior's  Group Chief Executive said: "This latest acquisition
is  a  significant step in Flexonics' development as a leading
supplier  of  expansion  joints  to  the  specialist  district
heating, marine and industrial markets.  It will substantially
enhance  our existing expansion joint businesses which operate
primarily in Germany, Central Europe, the UK and the  USA  and
has  the  clear potential to open attractive new  markets  for
Senior,  both  in  terms  of industry  sector  and  geographic
regions.   In  particular, it adds to the Group's presence  in
Scandinavia  and  Central  Europe,  markets  where  Senior  is
currently under represented".
 
                               
For further information, please contact:
 
Senior Engineering Group plc                      01923 775 547
Andrew Parrish, Group Chief Executive
Glenn Timms, Director - Corporate Development
 
Senior Flexonics, Europe                          01923 775 547
Nick Turnbull, Division Director - Flexonics Europe and Asia
 
Ludgate Communications                            0171 253 2252
Tim Davis
 
 
Notes to Editors
 
Senior  Engineering  Group  plc  ("Senior")  is  a  specialist
international  engineering group with a market  capitalisation
of  approximately  #450  million.  It is  organised  into  two
principal  divisions  -  Flexonics and Engineered  Products  &
Services.  The Flexonics Division, which provides 90%  of  the
Group's  operating  profits, is a  world  leading  design  and
manufacturing  business specialising in  thin-walled  metallic
flexible   tubing  and  bellows,  servicing  the   Automotive,
Aerospace (including Space) and Industrial markets.
 
 
END

ACQNFXFEDEPPEFN
Senior (LSE:SNR)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Senior Charts.
Senior (LSE:SNR)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Senior Charts.