VIG Vale Int

RNS Number:9842E
VI Group PLC
22 June 2006


RNS Release

22 June 2006

                                  VI Group plc

                         ("VI Group" or "the Company")

                Acquisition of Plastics & Computer International

VI Group, suppliers of CAD/CAM software to the international plastics
manufacturing industry, has entered into a conditional agreement to acquire
Italian-based software consultancy Plastics & Computer International ('P&C').
The deal marks VI Group's first entry into the analysis and Computer Aided
Engineering market.

The acquisition is conditional upon the completion of certain formalities. The
agreed consideration of #550,000 (Euro810,000) will be satisfied in cash made in
three stage payments over the next two years. Key sales and development
personnel will remain with the business during its integration with the Group.

Milan-based Plastics & Computer was established in 1983. It makes and licenses
software for the analysis and simulation of plastic materials within injection
moulds. The company's sophisticated software allows its customers to model
accurately how different materials will perform inside the moulds and dies. P&
C's software therefore offers significant advantages over traditional 'trial and
error' production methods.

Its customers include Fiat in Italy and the multi-national Flextronics, which is
based in the US. The company has been selling its products labelled as VISI-Flow
through its Italian subsidiary for more than a year. For the 12 months ended
December 31 2005 P&C made profits before tax of #37,000 on turnover of #282,000.
The acquisition includes offices owned by P&C, recently valued at approximately
#260,000, and liquid financial assets of approximately #200,000.

One of the principal benefits of the acquisition will be VI's ability to market
P&C's products to the Group's much larger international customer base.

Don Babbs, Chief Executive of VI Group, said:

"This acquisition is particularly exciting. It is the first time our product
range has been extended into the analysis and Computer Aided Engineering (CAE)
market. We see a strong opportunity to boost sales because by integrating P&C's
software range with our own, we can sell P&C's analysis products to a much
broader base of potential users throughout the world, rather than just in Italy."

Professor Giorgio Bertacchi, President of P&C, commented:

"This transaction will enable us to expand our sales of these innovative
products beyond Italy. VI has the necessary breadth and experience in
distributing highly technical products to enable the product to be marketed
successfully on a worldwide basis."

Enquiries, please contact:               

VI Group plc  
Don Babbs, Chief Executive                                        
Julie Randall, Finance Director
Tel: 01453 732 900

Gresham PR Ltd.
Neil Boom
Tel: 020 7404 9000

Corporate Synergy Plc                                 
Brian Stockbridge
Tel: 020 7448 4400


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

END
ACQSEUFWFSMSEDM

Vale Int (LSE:VIG)
Historical Stock Chart
From Oct 2024 to Nov 2024

Vale Int (LSE:VIG)
Historical Stock Chart
From Nov 2023 to Nov 2024