Spirax-Sarco Engineering PLC Acquisition (9804R)
July 02 2015 - 5:00AM
UK Regulatory
TIDMSPX
RNS Number : 9804R
Spirax-Sarco Engineering PLC
02 July 2015
2nd July 2015
Spirax Sarco acquires MasoSine manufacturing and distribution
rights in Japan
Spirax-Sarco Engineering plc, the world leader in the control
and efficient use of steam, and in peristaltic pumping and
associated fluid path technologies, announces that it has acquired
the MasoSine(R) sinusoidal pump manufacturing and distribution
business from PRIMIX Corporation (PRIMIX), Japan, for GBP2.8
million.
The acquired business will operate as a new company,
Watson-Marlow Co. Ltd, within our Watson-Marlow Fluid Technology
Group (WMFTG) and will provide WMFTG with a direct sales presence
in the Japanese market for the first time. This will strengthen the
level of service and support available to WMFTG customers in the
significant Japanese food and beverage and industrial process
markets, and provide a platform for future growth in this important
market.
The purchase consideration excludes any cash or debt balances
and will be financed from the Group's existing cash resources. The
acquisition is expected to provide an immediate small benefit to
Group earnings per share.
Enquiries:
Nick Anderson, Chief Executive
David Meredith, Director Finance
Tel: 01242 535234
About Spirax Sarco
Spirax-Sarco Engineering plc is the world leader in each of its
two businesses, Spirax Sarco for steam specialties and
Watson-Marlow Fluid Technology Group for niche peristaltic pumps
and associated fluid path technologies. The steam specialties
business provides a broad range of fluid control products,
engineered packages, site services and systems expertise for a
diverse range of industrial and institutional customers. The
company helps its customers to improve production efficiency,
reduce energy costs, water usage and emissions, improve product
quality and enhance the safety of their operations. Watson-Marlow
Fluid Technology Group offers the ideal solution for a wide variety
of demanding fluid path applications with highly accurate,
controllable and virtually maintenance free pumps and associated
technologies. The Group is headquartered in Cheltenham, England,
has strategically located manufacturing plants around the world and
employs approximately 4,800 people, of whom around 1,300 are direct
sales and service engineers. Its shares have been listed on the
London Stock Exchange since 1959 (symbol: SPX). Further information
can be found at www.spiraxsarcoengineering.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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