Spirax-Sarco Regulatory News (SPX)

3 Mar 2008 08:54

Spirax-Sarco Engineering PLC03 March 2008 3rd March 2008 Spirax-Sarco acquires Italian manufacturer of mechanical level controls for €1.2 million (£0.9 million) Spirax-Sarco Engineering plc announces that, through its subsidiary company AmpeItalia S.r.l., it has agreed to acquire the entire issued share capital ofColima S.r.l., based in Milan, Italy. Completion will take place at the end ofMarch, subject to routine Closing conditions. Colima manufactures a range of mechanical and magnetic level controls which ismarketed to a range of customers, predominantly within Italy and which arecomplementary to Ampe's existing product offering. Colima enjoys a particularlygood reputation within the shipbuilding industry. The purchase consideration of €1.2 million (£0.9 million) excludes any cash ordebt balances and will be financed from the Group's existing cash resources.€0.6 million (£0.46 million) of the consideration is payable on Completion, withthe balance payable in instalments during the next two years. Contact details: Marcus Steel - Chief ExecutiveMark Vernon - Chief Operating OfficerDavid Meredith - Director Finance Spirax-Sarco Engineering plcCharlton HouseCheltenhamGloucestershireGL53 8ER Tel: 01242 521361Fax: 01242 581470www.SpiraxSarcoEngineering.com This information is provided by RNS The company news service from the London Stock Exchange