Rotork Regulatory News (ROR)

2 Mar 2005 07:05

Rotork PLC02 March 2005 2 March 2005 ROTORK p.l.c. Acquisition of Business and Assets of PC-Intertechnik GmbH ("PCI") Rotork, the specialist engineering company, today announces the acquisition ofthe business and assets of PCI, including the business' extensive manufacturingsite and facilities located in Melle, Germany which have been purchasedseparately from the shareholders of PCI. The total consideration for the transaction is €9.8 million all payable in cash.A sum of €2.0 million is deferred in tranches with full release over 12 monthssubject to performance of the business and no relevant warranty claims by thepurchaser. The value of net assets acquired is €8.7 million. In 2004 the PCI business produced a profit of €1.5 million adjusted to excluderental on the property. Commenting on the acquisition, Bill Whiteley, Chief Executive, said: "PCI brings new products, particularly in the high pressure fluid power market,to Rotork Fluid System to further enhance its product offerings and ensures itis able to provide customers with a complete range of pneumatic and hydraulicactuator solutions. PCI is a well established business, which has gained aleading reputation for providing quality product to meet exacting customer andend user requirements. Our Fluid Power business has experienced strong organicgrowth and this acquisition will further assist that growth by providing newproduct offerings for our worldwide sales and distribution channels and aid ourpresence in PCI's traditional German, Eastern European and former Soviet Unionmarkets." - ends - All enquiries: Bill Whiteley, Rotork p.l.c. - 01225 733 200 Sally Lewis, Financial Dynamics - 020 7269 7224 10033 This information is provided by RNS The company news service from the London Stock Exchange