Acquisition

15 Oct 2007 07:01

Vp PLC15 October 2007 Press Release 15 October 2007 Vp plc ("Vp" or "the Group") Acquisition Vp plc, the equipment rental specialist, today announces that its subsidiaryTorrent Trackside, which provides infrastructure equipment and services for therail industry, has acquired the business and assets of First Engineering's smallplant division for a consideration of £1.2 million. Included within the assetsis a freehold property at Shettleston in Glasgow. First Engineering is asubsidiary company of Babcock International Group PLC. As part of the acquisition, Torrent Trackside has entered into a three yearsupply agreement with First Engineering for the hire of rail portable plant,trackside lighting and equipment. The acquired business will be integrated within Torrent Trackside's railportable plant rental business supporting the UK's major track maintenance,renewals and project contractors. Jeremy Pilkington, Chairman, commented: "The acquisition of the rail portableplant rental business of First Engineering is a significant development forTorrent Trackside and further enhances our strategic relationship and alliancewith First Engineering. The acquisition builds on Torrent Trackside'sunrivalled reputation for quality in support of the rail industry and itsambition to be the supplier of choice." - Ends - For further information please contact: Vp plcJeremy Pilkington, Chairman Tel: +44 (0) 1423 533 405jeremypilkington@vpplc.comNeil Stothard, Group Managing Director Tel: +44 (0) 1423 533 445neil.stothard@vpplc.com www.vpplc.comMike Holt, Group Finance Director Tel: +44 (0) 1423 533 445mike.holt@vpplc.com www.vpplc.com Media enquiries: Abchurch CommunicationsSarah Hollins / Emma Johnson Tel: +44 (0) 113 203 1340emma.johnson@abchurch-group.com www.abchurch-group.com Notes to editors About Vp The principal activity of the Group is equipment rental and associated servicesalmost entirely conducted within the UK. Vp plc listed on the London StockExchange in 1973. The Group is focused on six businesses: Hire Station Tools and specialist products for industry, construction and home owners. TPA Portable roadway systems, bridging, fencing and barriers primarily to the UKmarket, but also in the Republic of Ireland and mainland Europe. Torrent Trackside Infrastructure equipment and services for the railway renewals and maintenanceindustry. Groundforce Excavation support systems and specialist products for the water, civilengineering and construction industries. UK Forks Rough terrain material handling equipment for industry, residential and generalconstruction. Airpac Bukom Oilfield Services Equipment and service providers to the international oil and gas exploration anddevelopment markets. This information is provided by RNS The company news service from the London Stock Exchange