BTR PLC - Acquisition
August 05 1997 - 10:32AM
UK Regulatory
RNS No 3393q
BTR PLC
5th August 1997
BTR PROCESS CONTROL GROUP
ACQUIRES LIMITORQUE CORPORATION
BTR plc announces that its Process Control Group, one of the
world's leading suppliers of valves, meters and industrial
batteries with 1996 sales of approximately #1 billion, has
acquired Limitorque Corporation from American Manufacturing
Corporation for a cash consideration of US$60 million.
Limitorque will join BTR Process Control's Valve business.
Limitorque is the foremost US manufacturer of multi-turn
electric actuators and one of the two largest electric actuator
manufacturers in the world. Based in Lynchburg, Virginia, with
annual sales of US$76 million, the company has additional
manufacturing operations in North Carolina, England, Australia,
Singapore and India. A supplier to more than 500 valve
manufacturers and many other end-users worldwide, Limitorque's
product range also includes gear reducers, quarter-turn
electric actuators and pneumatic actuators.
Limitorque fits well with BTR's strategy of furthering the
Valve group's global presence, complementing its existing
product range and enhancing its capability to offer integrated
solutions to the international customer base. There are good
growth opportunities for this business as the demand for
actuated valves is expected to continue to increase in the
future as customers seek to reduce operating costs, raise
productivity and increase safety.
Commenting on the acquisition, Ian Strachan BTR's Chief
Executive said: "The acquisition is the latest in a number of
strategic purchases made to extend our product offering and
geographic range in areas where we expect to see high growth.
To date in 1997, we have purchased annualised sales in excess
of #350 million. Our Power Drives Group has acquired the
servomotor and control devices manufacturer, Parvex and a
number of sub-fractional and fractional motors business in the
US and Europe. Process Control has invested in key emerging
markets - expanding its Valves operation, with the acquisition
of Worcester Controls' Brazilian arm, and its Batteries
business with the purchase of Huada in China and Microlite in
Brazil."
For more information please contact:
BTR plc
Stuart Gendall, Manager, Corporate Communications
Tel.: +44(0)171 821 3726
Brunswick Group
Victoria Sabin
Tel.: +44(0)171 404 5959
Visit BTR's web site at: www.btrplc.com
END
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