Acquisition
December 23 2009 - 1:01AM
UK Regulatory
TIDMCHLD
RNS Number : 5952E
Chloride Group PLC
23 December 2009
23 December 2009
Chloride acquires French Energy & Infrastructure Secure Power Systems Business
Chloride Group PLC ("Chloride") is pleased to announce that is has today
completed the acquisition of the entire issued share capital AEES ("Automatismes
Energie Electroniques Systemes SAS"), a French secure power company focussed on
the Energy and Infrastructure market. The shares are being acquired from
Sofisme SA which is part of the French Socaldi Group.
Headquartered in Lyon, AEES employs 135 people in France and in the year ended
30 September 2008, had audited revenues of Euro 21.4 million (of which 50% were
outside France), operating profits of Euro 2.2 million and gross assets of Euro
11.5 million.
Commenting on the acquisition, Tim Cobbold, CEO of Chloride said:
"AEES' activities complement very well Chloride's existing Energy &
Infrastructure business, which is also based in Lyon, and will strengthen the
Group's position in these important, long term growth markets, in France and
globally. AEES has a consistent record of growth in sales, profits and cash
generation and is led by a strong management team, who will be staying with the
business. "
Forward-looking statements
This statement contains certain forward-looking statements with respect to
the financial condition, results, operations and businesses of Chloride Group
PLC. These statements and forecasts involve risk and uncertainty because they
relate to events and depend upon circumstances that will occur in the future.
There are a number of factors that could cause actual results or developments to
differ materially from those expressed or implied by these forward-looking
statements and forecasts. Nothing in this statement should be construed as a
profit forecast.
Enquiries:
Chloride Group PLC
T: +44 (0) 20
7881 1440
Tim Cobbold (Chief Executive)
Neil Warner (Finance
Director)
Hudson Sandler
T: +44 (0) 20 7796 4133
This information is provided by RNS
The company news service from the London Stock Exchange
END
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