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22 May 2008 12:00
RNS Number : 0592V
Hydro International PLC
22 May 2008
HYDRO INTERNATIONAL PLC ("Hydro" and "the Group")
2008 AGM Trading Statement
Business activity in the Group's UK and US operating companies has started the year at encouraging
levels, building on trading reported for 2007. This progress has been achieved against the back drop of the challenges faced by the housing and construction sectors and the recent turmoil in the world financial markets.
The acquisition of Eutek Systems, Inc., a leading US supplier of proprietary grit removal equipment based in Portland, Oregon, on May 5th 2008 provides further opportunity for growth by strengthening our position in the US wastewater market. The Eutek business brings new intellectual property to the Group, enhances our product offering in the grit removal sector, strengthens our routes to market in the US and provides a west coast base for improved coverage of the US market. The integration of the Eutek business into Group is progressing as planned.
The overall business drivers remain strong and the Board is expecting further progress in 2008, which as in previous years, is likely to be weighted towards the second half of the year.
For further information, please contact:
Tony Hollox
Group Finance Director
Hydro International plc Tel: +44 (0)12 7587 8371
Daniel Harris
KBC Peel Hunt Ltd (Nominated Adviser & Broker) Tel: +44 (0)20 7418 8990
22 May 2008
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