SNR Senior Plc

RNS No 9632e
SENIOR ENGINEERING GROUP PLC
26th May 1998
 
                       Senior to Acquire
          Additional Spanish Heat Treatment Business
 
Senior  Engineering Group plc is pleased to announce  that  it
has  agreed  to  acquire the business,  trade  and  assets  of
Tratamientos   Sarasketa  S.A.  ("Sarasketa")   for   a   cash
consideration  of  approximately #2.5  million  (approximately
pesetas  621  million).  In the twelve months to  31  December
1997,  Sarasketa's unaudited operating profit was #0.4 million
on sales of #2.8 million.
 
The final consideration is dependent on the net asset value at
closing,  which  it is anticipated will be approximately  #0.5
million.   The acquisition will be financed from  the  Group's
existing borrowing facilities.  Completion is expected to take
place within the next week.
 
Sarasketa  is one of the largest heat treatment businesses  in
Spain,  based  in Bilbao, and has approximately 50  employees.
The business provides a wide range of heat treatment services.
 
Commenting  on  the acquisition of Sarasketa, Andrew  Parrish,
Senior's  Group Chief Executive said:  "This is  a  small  but
significant addition to Senior's Heat Treatment existing three
businesses in Spain, continuing the growth of the business  by
acquisition  and  representing a second move into  continental
Europe, following the acquisition of a controlling interest in
TTI  earlier this year.  Sarasketa operates primarily  in  the
automotive and, to a lesser extent, general industrial sectors
and  is complementary to the Group's Sohetrasa business, which
in combination will occupy a strong position in the region."
 
For further information, please contact:
 
Senior Engineering Group plc                     01923 775 547
Andrew Parrish, Group Chief Executive
Glenn Timms, Director - Corporate Development
 
Senior Engineered Products & Services            01923 775 547
Carl Francis - Divisional Director
 
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  #700  million.  It is  organised  into  two
principal  divisions  -  Flexonics and Engineered  Products  &
Services.  The Engineered Products & Services Division,  which
produces  30%  of  Group sales, comprises  Air  Systems,  Heat
Treatment and Precision Tube.  The Heat Treatment operation is
a UK market leader in providing heat treatment services to the
automotive industry.  Sales were #15.2 million in the year  to
31  December 1997, with operating profit of #2.6 million.  The
Heat Treatment business employs approximately 350 people.
 
 
END
 
 


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