Acquisition
August 07 2003 - 6:03AM
UK Regulatory
RNS Number:4301O
Bodycote International PLC
07 August 2003
Date: Thursday 7 August 2003
BODYCOTE EXPANDS MIDDLE EAST LABORATORY OPERATIONS
Bodycote International plc is pleased to announce the acquisition by its
Materials Testing Division of the Middle Eastern laboratory interests of
Carillion plc on 1 July 2003 for #1.3m cash.
The acquired businesses operate from five locations throughout the United Arab
Emirates and the Sultanate of Oman providing material testing services to the
construction and oil and gas industries.
The new laboratories will combine resources with Bodycote's existing operations
in Abu Dhabi to provide a comprehensive service in metallurgical, analytical,
coatings and civil engineering testing to the region.
As part of the deal, a joint venture has also been signed with Al Futtaim Real
Estate Investment Co. LLC in connection with testing operations in Dubai and the
Northern Emirates. Through Al Futtaim's strong position as an investor in the
future development of Dubai, Bodycote hopes to expand and focus the laboratory
business as a leading independent source of materials testing to all major
industrial companies in the area.
Key Carillion management associated with the laboratory businesses have all
transferred to Bodycote and will operate under the direction of Bodycote's
existing Middle East management.
- ENDS -
For further information, please contact:
Derek R Sleight, CA,
Group Corporate Development Director
Bodycote International plc Tel no: 0131 476 7611
Jon Simmons/Meg Baker
Financial Dynamics Tel no: 020 7831 3113
This information is provided by RNS
The company news service from the London Stock Exchange
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