Acquisition

Halma PLC 15 September 2000 HALMA ACQUIRES FURTHER LEAK REDUCTION EXPERTISE The Directors of Halma p.l.c., the leading safety and environmental technology group, announce that on Thursday 14 September 2000, the Group completed the purchase of the whole of the issued share capital of Wessex Electronics Consultants Limited ('Wessex'). Wessex, based in Hampshire, makes software and equipment for leakage reduction for the UK water industry. Their key products are water flow and pressure loggers plus pressure control devices. Leakage control comprises three elements; data logging, pressure control and leak detection. Wessex products are complementary to those of Palmer Environmental, the Halma Group's world-leading water leak detection business, so Wessex will benefit from closer links to Palmer as well as to Hydreka, Halma's leading supplier of continuous monitoring and data analysis systems to the French water industry. Audited accounts for the year ended 31 March 2000 show sales of £1,429,000 and profit after taxation of £421,000. The consideration is £2,000,000 payable in cash on completion plus up to £1,730,000 payable in loan notes if performance targets are met in the period up to 31 March 2002. Stephen O'Shea, Halma's Chief Executive, commented 'Buying Wessex is part of our strategy of expanding from the foundation of the leak localisation and pin-pointing business of Palmer Environmental. The purchase of Wessex now and Hydreka in March 2000 extends the Group's capabilities to include pressure control in water pipes, flow measuring and analysis. Halma companies now offer the widest product range available to water companies for leak minimisation. The acquisition builds on the existing unique technical expertise of our water related businesses and will be of value to water utilities across the world.' Enquiries: Stephen O'Shea Chief Executive, Halma p.l.c. Tel: +44 (0)1494 721111

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Halma (HLMA)
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