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22 May 2008 12:00
RNS Number : 0592V
Hydro International PLC
22 May 2008
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HYDRO INTERNATIONAL PLC ("Hydro" and "the Group")
2008Β AGM Trading Statement
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Business activity in the Group'sΒ UKΒ and US operating companies has started the year at encouraging
levels,Β buildingΒ on trading reportedΒ forΒ 2007.Β Β This progress has been achievedΒ against the back drop ofΒ the challenges faced by theΒ housing andΒ construction sectorsΒ andΒ the recent turmoil in the worldΒ financial markets.
The acquisition of Eutek Systems, Inc., a leadingΒ USΒ supplier of proprietary grit removalΒ equipment based inΒ Portland,Β Oregon,Β on May 5thΒ 2008 providesΒ furtherΒ opportunity for growth byΒ strengtheningΒ ourΒ positionΒ in theΒ USΒ wastewater market. The Eutek businessΒ brings new intellectual property to the Group,Β enhances our productΒ offeringΒ in the grit removal sector,Β strengthensΒ our routes to market in theΒ USΒ and provides a west coast base for improvedΒ coverage of theΒ USΒ market.Β The integration of the Eutek business into Group is progressing as planned.Β
The overall business drivers remain strong andΒ the Board is expectingΒ further progressΒ inΒ 2008,Β which asΒ inΒ previousΒ years,Β isΒ likely to beΒ weighted towards the second half of the year.
For further information, please contact:
Tony Hollox
Group Finance Director
Hydro International plc Tel: +44 (0)12Β 7587Β 8371
Daniel Harris
KBC Peel Hunt Ltd (Nominated Adviser & Broker) Tel: +44 (0)20 7418 8990
22 May 2008
This information is provided by RNS
The company news service from the London Stock Exchange
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