New World Oil And Gas Regulatory News (NEW)

18 Apr 2006 07:01

Newcourt Group plc18 April 2006 Newcourt Group plc Acquisition of STI 18 April 2006 Newcourt Group plc ("Newcourt") announces that it has acquired SecurityTechnology Ireland Limited ("STI") for a total consideration of €2 million, ofwhich €0.5m is deferred. Based in Dublin STI's business is principally theinstallation and maintenance of electronic security systems. STI will becomepart of the Federal Security Group, Newcourt's security and outsource division. In the year ended 31 December 2005 STI had turnover in excess of €1m and profitbefore tax of circa €250,000. Net assets acquired are in excess of €1.3m.Commenting on the announcement Philip Hynes, founder and managing director ofSTI said that "he was very pleased to join the Newcourt Group and looked forwardto continuing to service the excellent client base of STI with the additionalresources that will now be available to him." Commenting on the announcement Hugh O'Neill, managing director of FederalSecurity Group and executive director of Newcourt said that "the acquisition ofSTI would be a very valuable addition to the Federal Security Group ElectronicDivision and that he looked forward to Philip Hynes playing a major role in thecontinuing development of that division." For Further Information please contact: Newcourt Group plc Hugh O'Neill, Managing Director, Federal Security Group Tel: +353 86 1713878Damien Murray, Chief Financial Officer Tel: +353 1 6698242 Murray Consultants Joe Murray Tel: + 353 1 4980300 Mobile:+ 353 86 2534950 This information is provided by RNS The company news service from the London Stock Exchange