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Acquisition

8 Mar 2006 07:04

Biotrace International PLC08 March 2006 For Immediate Release 8 March 2006 BIOTRACE INTERNATIONAL PLC Purchase of Target Diagnostica Biotrace International Plc ("Biotrace", "the Company" or "the Group"), a leadingmanufacturer of industrial microbiology products, announces today that it haspurchased the remaining shares in Target Diagnostica srl ("Target") forapproximately £0.3 million in cash. The MicroSafe Group ("MicroSafe") based in Italy, was acquired by Biotrace inSeptember 2005 and held 39% of Target. MicroSafe has now acquired the remaining61% of Target's shares. Based in Milan, Target distributes microbiologyproducts, principally to the food, environmental and pharmaceutical industriesand has worked closely with MicroSafe for a number of years. Target had revenuesof €2 million (approximately £1.4 million) in 2005 and a pre tax profit of €0.2million (approximately £0.1 million). The consideration for the remaining shareswill be satisfied by way of cash amounting to €0.5 million (approximately £0.3million) which will be paid in two equal payments in January 2007 and January2008. These payments bring the total consideration for Target to €0.8 million(approximately £0.5 million). Highlights • Adds approximately £1.4 million to Group revenues in a full year • Immediately earnings enhancing with approximately £0.1 million of profit in a full year • Strong recurring revenues from reagents and consumables • Enhances competitive position and provides opportunity for improved efficiencies Ian Johnson, Chief Executive Officer of Biotrace, said: "With this latest addition to the Group, Biotrace is continuing to strengthenits position in Europe as a leading manufacturer and supplier of microbiologyproducts to the industrial market. The completion of the purchase of Target andits integration within MicroSafe will provide an opportunity to improve thefinancial performance of the Group. Mr Veronesi, the founder and ManagingDirector of Target has together with his team, developed a strong position inthe Italian market and I look forward to building on his achievements." - ENDS -For further information, please contact: Biotrace International PlcIan Johnson, Chief Executive Officer Tel : +44 (0)1656 641 400Peter Morgan, Finance Director Buchanan CommunicationsTim Anderson / James Strong Tel: +44 (0)20 7466 5000 Notes to editors: Biotrace International Plc is a leading manufacturer and supplier of industrialmicrobiology products. The Company is organised into three business segments:Food & Environmental, Pharmaceutical, Personal Care & Cosmetics and Defence. TheGroup's proprietary technologies are used by most of the world's leading foodand beverage manufacturers who rely on Biotrace products as an essential part oftheir quality control procedures. Other industrial customers includepharmaceutical and personal care product/cosmetics manufacturers together withenvironmental/industrial process water clients. The Defence segment providessystems and consumables for the rapid detection of biological weapons formilitary and homeland security organisations. Formed in 1988 and floated on the London Stock Exchange in 1993, Biotrace hadtotal revenues of over £29 million in 2005. The Company is headquartered inBridgend, UK with manufacturing and sales operations worldwide. Visit Biotraceat www.biotrace.com This information is provided by RNS The company news service from the London Stock Exchange
Date   Source Headline
18th Sep 20074:46 pmRNSTransfer of Business Approved
18th Sep 20074:37 pmRNSTransfer of Business Approved
31st Aug 20079:00 amRNSCancellation of Lstng of Bnds
8th Aug 20073:30 pmRNSResult of Meeting
3rd Jul 200712:52 pmRNSTotal Voting Rights
29th Jun 200711:41 amRNSIssue of Debt
28th Jun 200710:27 amRNSIssue of Debt
20th Jun 20077:02 amRNSAnnual Report and Accounts
20th Jun 20077:00 amRNSDirectorate Change
19th Jun 200710:15 amRNSDirector/PDMR Shareholding
19th Jun 200710:11 amRNSDirector/PDMR Shareholding
14th Jun 20073:01 pmRNSTransfer of Business
14th Jun 20073:00 pmRNSTransfer of Business
6th Jun 20073:01 pmRNSStatement re Trnsfer of Busin
6th Jun 20073:01 pmRNSTransfer of B&W plc business
31st May 20076:05 pmRNSFinal Results
31st May 20077:02 amRNSPreliminary Results
14th May 20077:00 amRNSDirectorate Change
30th Mar 20075:31 pmRNSTreasury Stock
21st Mar 20077:01 amRNSPre-Close Trading Statement
20th Feb 200712:33 pmRNSMortgage Securitisation
19th Feb 200710:01 amRNSTransfer of businesses to BOI
19th Feb 200710:00 amRNSUK Business Corporate Strctr
9th Feb 200712:55 pmRNSCancellation of Listing
20th Dec 20063:10 pmRNSMerger Update
19th Dec 20063:49 pmRNSHolding(s) in Company
27th Nov 20063:28 pmBUSRule 8.3 - Biotrace cfd
27th Nov 20063:00 pmRNSMerger Update
24th Nov 20067:00 amRNSOffer Update
23rd Nov 200610:25 amRNSHolding(s) in Company
20th Nov 20067:02 amRNSOffer Update
16th Nov 20067:03 amRNSInterim Results
6th Nov 20063:00 pmRNSMerger Update
6th Nov 20067:01 amRNSOffer Update
31st Oct 20062:47 pmBUSRule 8.3 - Biotrace Int'l Plc CFD
31st Oct 200610:18 amRNSEPT Disclosure
26th Oct 200610:50 amRNSEPT Disclosure-Amendment
25th Oct 200610:26 amRNSEPT Disclosure
24th Oct 20064:59 pmBUSRule 8.3 - Biotrace CFD - Amendment
23rd Oct 20065:01 pmBUSRule 8.3 - Biotrace CFD
23rd Oct 20064:11 pmRNSHolding(s) in Company
20th Oct 20065:33 pmBUSRule 8.3 - Biotrace CFD
19th Oct 200610:46 amRNSEPT Disclosure
18th Oct 200610:33 amRNSEPT Disclosure
17th Oct 20063:00 pmRNSPrior Notice of Merger
17th Oct 200611:03 amRNSEPT Disclosure
16th Oct 20065:14 pmRNSHolding(s) in Company
16th Oct 200611:02 amRNSEPT Disclosure
16th Oct 20067:00 amRNSOffer Document Posted
13th Oct 200610:16 amRNSEPT Disclosure

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