Spirax-Sarco Regulatory News (SPX)

1 Feb 2008 13:39

Spirax-Sarco Engineering PLC01 February 2008 1st February 2008 Spirax Sarco acquires Danish manufacturer of peristaltic aseptic filling systemsfor DKK141m (£14.1m) Spirax-Sarco Engineering plc announces that, through its subsidiary companyWatson-Marlow Bredel, it has agreed to acquire the entire issued share capitalof Flexicon A/S, based in Denmark. The transaction includes full ownership ofFlexicon's distribution company for the USA, Flexicon America Inc. Completion,which is expected to take place by the end of February, is subject to routineClosing conditions. Flexicon's range of peristaltic aseptic filling systems is marketed to thebiopharmaceutical industry worldwide. Watson-Marlow Bredel is the world'sleading manufacturer of peristaltic pumps and the acquisition of Flexiconcomplements its existing range of peristaltic pumps for dispensing applicationsand strengthens its presence in the biotechnology and pharmaceutical industries.Turnover in the year ended 30th June 2007 was DKK65m (£6.5m). The purchase consideration of DKK141m (£14.1m) excludes any cash or debtbalances and will be financed from the Group's existing cash resources. DKK113m(£11.3m) of the consideration is payable on Completion, with the balance payablein three equal instalments during the next three years. The acquisition isexpected to provide a benefit to Group earnings per share from 2008. Contact details: Marcus Steel - Chief ExecutiveMark Vernon - Chief Operating OfficerDavid Meredith - Director Finance Spirax-Sarco Engineering plcCharlton HouseCheltenhamGloucestershireGL53 8ER Tel: 01242 521361Fax: 01242 581470 www.SpiraxSarcoEngineering.com This information is provided by RNS The company news service from the London Stock Exchange