Acquisition

RNS Number : 0846D
Latham(James) PLC
16 March 2011
 



James Latham plc

 

("James Latham", the "Company")

 

Acquisition of DLH UK Limited Completed

 

 

Further to the announcement made on 4 February 2011, the Board of James Latham plc (AIM: LTHM) today announces the completion of the acquisition of DLH UK Limited .  James Latham has purchased the entire share capital of DLH UK Limited, a UK based importer and trader in hardwood, from Dalhoff Larsen & Horneman A/S for the consideration of £1. In the year ending 31 March 2010 DLH UK Limited had sales of £15m (£4.5m of which was attributable to James Latham) with profits before tax of £86,000 and gross assets of £6.3m. The gross assets are primarily made up of stock and trade debtors.

 

For many years DLH UK Limited has been a major supplier to the UK market of tropical hardwoods, particularly from Africa and Asia, and an important supplier to James Latham. James Latham is planning to develop the business by building on existing trading relationships with both customers and suppliers and in doing so is proposing to invest £4.2m into DLH UK Limited to fund this development.

 

 

 

For Further Enquiries:

 

James Latham Plc


Peter Latham, Chairman

Tel:  01442 849 100

David Dunmow, Finance Director

Tel:  01442 849 100



Northland Capital Partners Limited


Shane Gallwey

Luke Cairns

Tel:  020 7492 4750

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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