Shuco Profast Ltd and Shuco Products (UK)

29 Jan 1999

The Directors of Halma p.l.c. announce that on Friday, 29th January 1999 the Group completed the purchase of the business and assets of Shuco Profast Limited and Shuco Products ('Shuco'). Shuco's business will be merged with SEAC Limited, the Group company already strong in this market.

The combined company will be the foremost supplier in the UK of plastic headed nails and screws. These specialist fixings are used to attach UPVC cladding to buildings, in the manufacture of caravans and for fixing signs and number plates.

The net value of the tangible assets acquired, as defined within the purchase agreement, is approximately £400,000. Consideration of £1,655,000 was paid in cash on completion. The agreement also contains provision for additional consideration, up to a maximum of £165,000, in respect of attaining specified performance targets and non-competition undertakings.

This is the third acquisition made in Halma's 1998/99 financial year to date. Each business purchased has further enhanced a strong market position commanded by the Group's existing subsidiaries.

Contact: Stephen O'Shea, Group Chief Executive of Halma p.l.c. Tel: +44(0)1494 721111. Fax: +44(0)1494 728032.