Netherlocks Safety Systems B.V.

19 Jul 2005

Halma, the leading safety and environmental technology group, announces that on 19 July 2005 it completed the acquisition of Netherlocks Safety Systems B.V. ('Netherlocks') based in Alphen aan den Rijn, the Netherlands. The vendors of the company are Jacqal B.V., Wolgeest B.V. and Krissan Projects B.V.

The purchase price includes an initial cash consideration of €3 million (£2.07 million), to be funded from Halma's current cash resources. Additional payments of up to €7 million (£4.8 million) are conditional on profit growth over the current and following financial year.

Unaudited accounts for the year ended 31 December 2004 show that Netherlocks generated profit before tax of €742,000 (£512,000) on sales of €2,706,000 (£1,866,000).

Founded in 1993, Netherlocks is globally active in the process interlocking, valve control and machine guarding markets. The business is particularly well positioned to benefit from the significant growth opportunities in the petrochemical sector, one of its key markets.

Andrew Williams, Halma's Chief Executive, commented:

"The addition of Netherlocks will provide us with further strength in a growing market for our Process Safety business. Making bolt-on acquisitions of this nature, which increase our product range and distribution capability, remains an important element of our Group Strategy."

For further information, please contact:

Andrew Williams, Chief Executive, Tel +44 (0)1494 721111.
Kevin Thompson, Finance Director, Tel +44 (0)1494 721111.

Hogarth Partnership Limited,
Rachel Hirst/Andrew Jaques, Tel +44 (0)20 7357 9477.