Information  X 
Enter a valid email address

Alvis PLC (ALV)

  Print      Mail a friend       Annual reports

Tuesday 01 October, 2002

Alvis PLC

Further re Vickers Defence

Alvis PLC
1 October 2002

1 October 2002


                                   ALVIS PLC

                COMPLETION OF THE ACQUISITION OF VICKERS DEFENCE

*      Alvis plc completed its acquisition of Vickers Defence on 30 September 2002. This follows Alvis's announcement on
       2 August 2002, concerning the proposed acquisition of Vickers Defence, comprising Vickers Defence Systems and
       Vickers Bridging, both based in the UK, and a 75 per cent stake in Vickers OMC, based in South Africa.

*      The operations of Vickers Defence Systems will be merged with those of Alvis's existing UK armoured vehicle
       company, Alvis Vehicles Ltd, in a combined UK business. In order to benefit from the heritage and reputation of
       both Alvis and Vickers, it has been decided to call the combined UK company Alvis Vickers Ltd.

*      To strengthen the identity of the Alvis Group, all Group companies are being rebranded, to include the Alvis
       name.

*      The UK bridging company is now Alvis Bridging Ltd (formerly Vickers Bridging) and will report to Alvis Vickers
       Ltd. Alvis South Africa (Pty) Ltd (formerly Vickers OMC (Pty) Ltd), trading through its two divisions Alvis OMC
       and Alvis Gear Ratio, will report directly to Alvis plc.

*      The Scandinavian companies in the Alvis Group are in the process of being renamed. In Sweden, Hagglunds Vehicle
       AB will become Alvis Hagglunds AB and in Norway Hagglunds Moelv AS will become Alvis Moelv AS.

*      The enlarged Alvis Group now comprises: Alvis plc, Alvis Vickers Ltd, Alvis Bridging Ltd, Alvis OMC, Alvis Gear
       Ratio, Alvis Hagglunds AB and Alvis Moelv AS. The Alvis Group is Europe's leading manufacturer of armoured and
       specialist military vehicles, from 3 to 72 tonnes. The Alvis Group vehicle portfolio includes Challenger,
       Scorpion, Warrior, Piranha, Scarab, MRAV, Bv range and CV90. Alvis also provides systems integration, engineering
       solutions, modular bridging systems, product development, complete through-life logistic and maintenance support
       and training services.


ENQUIRIES:
Mary Ann Griffiths, Group Publicity Manager                     Tel: +44(0)20 7808 8888
Alvis plc                                                       Fax: +44 (0)20 7808 8859
34 Grosvenor Gardens, London                                    e-mail: [email protected]
SW1W 0AL, UK                                                    www.alvis.plc.uk



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

a d v e r t i s e m e n t