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Northbridge Ind Serv Completion Of Acquisition

Fri, 30th Jul 2010 11:34

TIDMNBI RNS Number : 2077Q Northbridge Industrial Services PLC 30 July 2010 ? 30 July 2010 NORTHBRIDGE INDUSTRIAL SERVICES PLC ("NORTHBRIDGE", THE "COMPANY" OR THE "GROUP") Completion of Acquisition Further to the announcement on 29 July 2010, Northbridge Industrial Services plc, the industrial services and rental company, is pleased to announce the admission of the Consideration Shares to trading on AIM and the completion of the acquisition of Tasman Oil Tools Pty Ltd ("Tasman"). Tasman, which is based in Perth, Western Australia, specialises in the rental of equipment throughout Australia for the onshore and off-shore oil industry. It supplies drilling tools and a range of specialist plant including pumps, blow out preventers and mud pump motors. The Acquisition is expected to give the Company a foothold into the Asia-Pacific region and will give the opportunity to distribute the Group's other products and services throughout Australia. The Board expects the Acquisition to be immediately earnings enhancing. For further information: +-----------------------------------------------+---------------+ | Northbridge Industrial Services plc | 01283 531645 | | Eric Hook, Chief Executive Officer | | | Ash Mehta, Finance Director | | | | | +-----------------------------------------------+---------------+ | Smith & Williamson Corporate Finance Limited | 020 7131 4000 | | (Nominated Adviser) | | | Azhic Basirov / David Jones | | | | | +-----------------------------------------------+---------------+ | Arbuthnot Securities Limited | 020 7012 2000 | | (Broker) | | | Alasdair Younie / Ed Groome | | | | | +-----------------------------------------------+---------------+ | Buchanan Communications | 020 7466 5000 | | Charles Ryland / James Strong | | | | | +-----------------------------------------------+---------------+ Unless the context requires otherwise, capitalised terms used in this announcement have the same meanings as given to them in the circular posted to shareholders dated 30 June 2010, which is available on the Company's website: www.northbridgegroup.co.uk. This information is provided by RNS The company news service from the London Stock Exchange END ACQDKLFLBDFXBBL (END) Dow Jones Newswires July 30, 2010 06:34 ET (10:34 GMT)

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