Spirax Sarco acquires MasoSine manufacturing and distribution rights
Spirax-Sarco Engineering plc, the world leader in the control and efficient use of steam, and in peristaltic pumping and associated fluid path technologies, announces that it has acquired the MasoSine® sinusoidal pump manufacturing and distribution business from PRIMIX Corporation (PRIMIX), Japan, for £2.8 million.
The acquired business will operate as a new company, Watson-Marlow Co. Ltd, within our Watson-Marlow Fluid Technology Group (WMFTG) and will provide WMFTG with a direct sales presence in the Japanese market for the first time. This will strengthen the level of service and support available to WMFTG customers in the significant Japanese food and beverage and industrial process markets, and provide a platform for future growth in this important market.
The purchase consideration excludes any cash or debt balances and will be financed from the Group's existing cash resources. The acquisition is expected to provide an immediate small benefit to Group earnings per share.
Nick Anderson, Chief Executive
David Meredith, Director Finance
Tel: 01242 535234
About Spirax Sarco:
Spirax-Sarco Engineering plc is the world leader in each of its two businesses, Spirax Sarco for steam specialties and Watson-Marlow Fluid Technology Group for niche peristaltic pumps and associated fluid path technologies. The steam specialties business provides a broad range of fluid control products, engineered packages, site services and systems expertise for a diverse range of industrial and institutional customers. The company helps its customers to improve production efficiency, reduce energy costs, water usage and emissions, improve product quality and enhance the safety of their operations. Watson-Marlow Fluid Technology Group offers the ideal solution for a wide variety of demanding fluid path applications with highly accurate, controllable and virtually maintenance free pumps and associated technologies. The Group is headquartered in Cheltenham, England, has strategically located manufacturing plants around the world and employs approximately 4,800 people, of whom around 1,300 are direct sales and service engineers. Its shares have been listed on the London Stock Exchange since 1959 (symbol: SPX). Further information can be found at www.spiraxsarcoengineering.com