Spirax-Sarco Engineering PLC Acquisition (4182A)
September 28 2015 - 9:00AM
UK Regulatory
TIDMSPX
RNS Number : 4182A
Spirax-Sarco Engineering PLC
28 September 2015
28(th) September 2015
Spirax Sarco acquires steam distribution business in
Colombia
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 the purchase of the
steam distribution business from our Colombian distributor, Casaval
S.A., for a cash consideration of GBP6.5 million on a debt free,
cash free basis.
Colombia is an attractive market, with a broad base of steam
using industries. Casaval S.A., which has represented Spirax Sarco
for over 20 years, has delivered strong growth and established a
good presence in the market for the Spirax Sarco brand. Our new
local operating company, Spirax-Sarco Colombia S.A.S., will
capitalise on the good growth opportunities for industrial and
commercial steam systems, products and solutions in Colombia. Our
newly expanded direct sales team will provide technical and
engineering support to customers, and advice on energy efficiency,
productivity and safety of customers' steam systems.
In addition to further developing the attractive market in
Colombia, our new operation will form a strategically important hub
for the expansion of our business in Northern Latin America.
The purchase consideration was paid on closing from existing
debt facilities and we expect that the business will make an
immediate small contribution to Group earnings.
Enquiries:
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
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