600 Group PLC
6 April 2001
6 April 2001
600 GROUP CONSOLIDATES ITS PLACE IN EUROPE
WITH FRENCH ACQUISITION
The 600 Group PLC has strengthened its presence within continental Europe by
completing the purchase of the bearings business of Gamet Precision SA of
France for an amount of FF 6 million (approximately £590,000).
The acquisition is the latest in a series of strategic machine tool based
acquisitions which have consolidated 600 Group's position within the European
market place and will strengthen and enhance the Group's wide range of
ancillary machine tool products.
The new business will be combined with 600 Group's existing bearings company,
Gamet Bearings, which together will make 600 Group the prime supplier of super
precision taper roller bearings in the world. All manufacturing and design
services will be located at Gamet Bearings in Colchester, England and, with a
combined network of distributors, customers will receive a more efficient and
Commenting on the acquisition, 600 Group Chief Executive Tony Sweeten says: '
This addition to the Group's resources will further enhance our position as a
force in Europe, making us better equipped to meet the European challenge,
with increased access to a huge potential market'.
Tony Sweeten, Group Chief Executive
The 600 Group PLC Tel: 0113 277 6100
Nick Lyon, Hudson Sandler Tel: 020 7796 4133