Acquisition

HALMA PLC 4 October 1999 HALMA ACQUIRES NEW ZEALAND ELEVATOR SAFETY COMPANY The Directors of Halma p.l.c. announce that on 4 October 1999 the Group completed the purchase of the entire share capital of T. L. Jones Limited ('T L Jones'), a manufacturer of door safety edges for the elevator industry. T L Jones manufactures its products in China and New Zealand. They are sold through its headquarters in New Zealand and its Chinese and Californian subsidiaries. The Group already has four subsidiaries concerned with elevator safety and emergency communications. These are Memco, Janus, EMS and E-Motive, each having a market leading position in its area of activity. Memco and Janus supply safety edges that prevent elevator doors from accidentally closing on passengers and have particular strength in Europe and America. T L Jones makes similar products and has additional territorial and customer coverage. EMS systems provide instant external communication for trapped passengers. E-Motive, purchased in July 1999, is a Singapore based manufacturer of visual displays and communication products for the elevator industry. Our Group companies are well positioned to provide an increasing range of products for elevator safety to customers anywhere in the world. T L Jones enhances the Group's Pacific Rim presence. Unaudited consolidated accounts for T L Jones for the year ended 31 March 1999, restated in Sterling, show sales of £3.4 million and pre tax profits of £0.8 million. The consideration is £4.0 million in cash plus an adjustment based on the valuation of net assets as at 4 October 1999 that is not expected to exceed an extra £1.2 million. Stephen O'Shea, Halma Group Chief Executive commented 'In the Group's Preliminary Announcement in June, I highlighted the success of our elevator safety companies. This acquisition complements our existing elevator safety businesses and provides opportunities to further develop our markets in this sector. The acquisition improves the focus of the Group on one of its key strengths. 'T L Jones is our sixth acquisition this calendar year. In each case we have bought a product line or a business which fits with and is closely related to an existing Group company. This is one of the ways the Group continues to enhance its position in its chosen global markets.' Copies of this announcement may be obtained from the Company's registered office for a period of fourteen days and at the Company Announcements Office of the London Stock Exchange for two days from the date of this announcement. Press Contact: Mr Stephen R O'Shea Chief Executive, Halma p.l.c. Tel: +44 (0)1494 721111

Companies

Halma (HLMA)
UK 100

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