Braemar Shipping Regulatory News (BMS)

29 Sep 2006 10:22

Braemar Seascope Group PLC29 September 2006 Braemar Seascope Group plc ("the Group") Acquisition of Hi-Bar The Board of Braemar Seascope Group plc is pleased to announce the purchase ofHi-Bar by its wholly-owned subsidiary company, DV Howells Limited. Hi-Bar is an environmental services business operating in the same field as DVHowells from premises near Gatwick. It has 3 employees and has built up a strongreputation giving advice and consultancy to a number of the Oil Majors. DV Howells, acquired by the Group in March 2006, is one of the leading UKenvironmental services businesses providing services primarily for the marinesector but also to the rail network, police forces, the Ministry of Defence andothers. It has 27 employees based in the UK at offices in Milford Haven,Stansted, Rotherham, Huddersfield, Falmouth, Didcot and Perth. The addition ofHi-Bar will complete DV Howells' UK incident response coverage by adding a basein the important south eastern sector, spanning the Greater London region withthe Stansted base in the North. The Group will pay cash of £125,000 on completion and a further £225,000 overthe next 24 months to the current owners who include some of the staff joiningthe Group. Quentin Soanes, Business Development Director of Braemar Seascope Group plc,commented, "We are delighted to be bringing Hi-Bar and DV Howells together, thetwo companies are a natural fit and marks a very positive step in building up anenvironmental services arm within a broadly-based shipping services group." ENDS For further information, contact: Braemar Seascope Group plc www.braemarseascope.com Quentin Soanes Tel 020 7535 2650 James Kidwell Tel 020 7535 2881Aquila Financial Peter Reilly Tel 020 7202 2601Charles Stanley Securities Philip Davies Tel 020 7149 6457 Notes to Editors: DV Howells has been one of the UK's leading names in hazard management since the1950s. An approved contractor to the Ministry of Defence and the Maritime andCoastguard Agency, the Company was the first in its field to achieve ISO9001 andthe highest level of Environment Agency accreditation. DV Howells has developed three core areas of expertise: • Incident response DV Howells has a 24 hour emergency response line and a network of specialistincident teams on permanent standby, handling any emergency from oil spills tomotorway accidents. • Operational support DV Howells provides a range of ongoing services to transport and industryincluding waste disposal, graffiti removal and industrial tank cleaning. • Specialist services DV Howells has accredited training programmes and consultancy advice to helpemergency response teams make the right decisions in the critical few hoursafter an incident. This information is provided by RNS The company news service from the London Stock Exchange