Acquisition

22 Jan 2007 07:01

Porvair PLC22 January 2007 For immediate release 22 January 2007 Porvair plc ("Porvair" or "the Company") Porvair acquires OmniFilter Porvair today announces that it has acquired the business and assets ofOmniFilter and Manufacturing Inc., ("Omni"), based in Richmond, Virginia. Omniis a specialist filtration company that serves a range of industrial marketswith both bespoke filters and sintered metal filtration media. It is profitableand in 2006 achieved sales of $2 million. The acquisition has been made for cashand is expected to be immediately earnings enhancing, the gross assets acquiredexcluding goodwill are approximately $0.6 million. Commenting on the acquisition Ben Stocks, Chief Executive of Porvair, said: "We are pleased to be adding Omni to our specialist filtration portfolio. Itwill join the Microfiltration division, which has grown its sales into the US inrecent years. Omni will give us a base from which to accelerate that growth,particularly in the current climate of dollar weakness. We also expect todevelop sales of Omni's metal media using our international sales presence." For further information please contact: Porvair plcBen Stocks, Chief Executive 01553 765 500Chris Tyler, Group Finance Director 01553 765 500 Buchanan Communications 0207 466 5000Charles Ryland / Ben Willey Notes to editors Porvair is a group of specialist filtration and environmental technologybusinesses. Its products are used in a range of niche filtration markets, andare derived from its expertise in the development and manufacture of porous andmicroporous ceramics, metals, plastics and carbons. This information is provided by RNS The company news service from the London Stock Exchange