Completion of Acquisition
12 Agosto 2005 - 9:00AM
UK Regulatory
RNS Number:0250Q
Deltron Electronics PLC
12 August 2005
For immediate release 12 August 2005
DELTRON ELECTRONICS plc
("Deltron" or "the Company")
COMPLETED ACQUISITION OF DELTRONA
Deltron Electronics plc (LSE : DET), the specialist European electromechanical
solutions provider, is pleased to announce today that, following on from the
announcement made on 15th July 2005, the Company has completed the acquisition
of Deltrona Vertriebsgesellschaft fur elektronische Bauelemente mbH (Deltrona)
of Germany, a specialist distributor of electromechanical components to the
manufacturing industry.
As outlined in the announcement made on 15th July the acquisition of Deltrona
was satisfied by #2.5M in cash. Net assets at completion were #1.2M including
#0.3M of cash.
Deltrona, which was founded in 1975, operates from Stuttgart which is
complimentary to Deltron's existing presence in Munich. Deltrona had a turnover
of #4.7 million for the year ended 31st December 2004 and reported a profit
before interest and tax of #180,000. Deltrona is a well established German
regional distributor, principally for Molex and Amphenol connector products
which are the World's number 2 and 3 leading connector manufacturers. Deltrona
supplies these products to a broad and well established customer base of leading
German industrial businesses.
Through this acquisition it is Deltron's intention to retain and develop a
Stuttgart sales and marketing organisation and initially promote Molex and
Amphenol product ranges plus supporting products throughout the whole of Germany
and Austria instead of the present regional base.
The acquisition of Deltrona will be earnings enhancing in the year to 30th
September 2006.
Commenting on the completion of this acquisition, Christopher Sawyer, Chief
Executive Officer of Deltron, said: "I am delighted that we have completed this
acquisition which gives Deltron a stronger market position in Germany and
fortifies the Company's position as a leading European provider to the
electronic components market. Together with its long established presence in
Stuttgart Deltrona provides Deltron with an increased German customer base and
range of products, new revenue opportunities and combines mutually beneficial
skill sets. We look forward to the successful integration of Deltrona into the
enlarged Deltron Group."
For more information please contact:
Deltron Electronics plc
Christopher Sawyer, Chief Executive Officer 01638 561156
Buchanan Communications
Mary-Jane Johnson 020 7466 5000
Notes to Editors
About Deltron
The Deltron Group is a leading European, value-added electromechanical component
distributor providing specialist design-in sales and marketing services for
international suppliers of electronic components. Deltron's value-added
approach and geographical coverage provides specialist knowledge and support to
customers on a pan-European basis. These services are supported by dedicated
in-house manufacturing.
Design-in is the process by which Deltron's sales engineers work with customers
and suppliers to provide solutions which meet the specific technical and
performance needs of the customers.
Deltron is fully quoted on the London Stock Exchange and has operating companies
in the UK, Ireland, Netherlands, Austria, Germany, France, Italy, Sweden, Norway
and Denmark.
For further information contact:
Deltron Electronics plc, Cheveley House, Fordham Road, Newmarket, Suffolk,
CB8 7XN. Tel: 01638 561156 Fax: 01638 661455
This information is provided by RNS
The company news service from the London Stock Exchange
END
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