Acquisition
March 21 2001 - 11:53AM
UK Regulatory
RNS Number:8784A
Brammer PLC
21 March 2001
BRAMMER plc
ACQUIRES BELGIAN INDUSTRIAL SERVICES BUSINESS
Brammer, the European industrial services group, today announces that it has
acquired 74.95% of the Belgian industrial services business, Anderlecht
Bearing Service s.a., (ABS) for a consideration of Euro681,707 in cash.
Highlights
* Brammer's operations in the UK, France, Germany, Spain, Benelux and
Portugal form the largest specialist business supplying bearings, power
transmission products and related value added services, in the EU
market.
* In the Benelux, Brammer presently owns 49% of KNS (which trades as
AKN) a bearings and power transmission products specialist.
* ABS specialises in the provision of value added services allied to
the supply of bearings and power transmission products and is based in
Brussels.
* The complementary geographies, brands and product expertise of AKN
and ABS provide opportunities for synergy and strengthen Brammer's
position in the Belgian market.
Commenting on the acquisition, Mr Ian Fraser, Brammer's Chief Executive, said:
"The acquisition, which gives us a strong position in the Brussels market,
strengthens our position in Belgium and as a pan-European industrial services
business."
Enquiries: Brammer plc 0161-928 3363
Ian Fraser, Chief executive
ELIZABETH BLEASE
GROUP COMPANY SECRETARY
BRAMMER plc
21 MARCH 2001
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