Warner Howard PLC - Acquisition
19 5월 1999 - 6:53PM
UK Regulatory
RNS No 4636w
WARNER HOWARD PLC
19 May 1999
Warner Howard plc
Acquisition of Industrial Washing Machines Limited ("IWM")
Warner Howard plc has today acquired 80% of the share capital of
IWM for #1,704,000 paid entirely in cash. IWM's audited profit
before tax for the year ended 28 February 1999 was #437,000 and
its net assets at 28 February 1999 were #240,000.
IWM manufactures, supplies and installs industrial machines for
washing re-usable packaging materials such as trays, crates,
bins, pallets and drums for a wide range of customers including
bakeries, breweries, pharmaceuticals, automotive manufacturers
and food processors.
Commenting on the acquisition, Ronald Hooker, Chairman stated :
"IWM operates in a niche market and complements our existing
businesses. The acquisition of IWM will provide the group
with opportunities for future growth."
Enquiries : Ernie Hazell - Chief Executive 0181 206 2900
END
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