Acquisition

Gas Turbine Efficiency PLC 20 June 2007 20 June 2007 Gas Turbine Efficiency plc GTE acquires US gas turbine services business Gas Turbine Efficiency plc ('GTE' or 'the Group'), a leading supplier of advanced cleaning, performance monitoring and fluid and control systems for gas turbines, announces the acquisition of ARES Technology, LLC, a specialist gas turbine services and repair business, for a cash consideration of $300,000. The acquisition is highly complementary to GTE's existing activities including the Group's subsidiary, Control Center, and is expected to be earnings enhancing from this year. The deal will also broaden the Group's customer base and technical capability in addressing the needs of industrial turbine operators in the power generation, oil & gas and marine sectors. ARES Technology, based in the US, made revenues of $223,000 and net profits of $30,000 in 2006. Net liabilities as at 31 December 2006 amounted to $117,000. The business is being acquired debt-free and has a current year order backlog of approximately $500,000. Steven Zwolinski, CEO of Gas Turbine Efficiency, said: 'We are delighted to announce the acquisition of ARES Technology, LLC, which broadens the Group's technical capability in a highly specialised niche of the industrial gas turbine market and will accelerate our growth as operators come under increasing pressure to minimise downtime, lower fuel costs and reduce emissions levels.' Enquiries: Gas Turbine Efficiency plc Steven Zwolinski, CEO +46 8 546 10 528 Libertas Capital Aamir Quraishi, Charles Goodfellow +44 20 7569 9650 Corfin Communications Neil Thapar, Harry Chathli +44 20 7929 8989 About GTE Gas Turbine Efficiency plc, whose shares are traded on London Stock Exchange's AIM market (Ticker: GTE), designs, manufactures and markets advanced integrated solutions for environmental, process and asset optimisation of gas turbines primarily in the aerospace, industrial, oil & gas and marine sectors. These solutions include cleaning systems, performance monitoring, fluid and control sub-systems that improve turbine performance and availability, fuel efficiency and parts life, resulting in increased profits for our clients and a cleaner environment. The Group sells its products to blue chip customers worldwide from operational centres in Europe and the USA. Visit www.gtefficiency.com This information is provided by RNS The company news service from the London Stock Exchange
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