Wardle Storeys PLC - Acquisition

RNS No 9243u
WARDLE STOREYS PLC
3rd July 1997


         WARDLE STOREYS AGREES TO ACQUIRE THE

          DUNLOP BEAUFORT DIVISION OF BTR plc


Wardle Storeys plc, the manufacturer of specialised plastic
sheeting, airborne systems and inflatable systems, today
announces that it has conditionally agreed to acquire, through
its wholly owned subsidiary Wardle Storeys (Safety & Survival
Equipment) Limited ("Safety & Survival"), the business and
certain of the assets and liabilities of Dunlop Beaufort
("Beaufort") from BTR Industries Limited, a wholly owned
subsidiary of BTR plc, for a consideration of #12.5 million in
cash.  The consideration is subject to an upwards or downwards
adjustment based on the level of working capital at completion.
The acquisition is expected to enhance earnings in its first
full year under Wardle Storeys' ownership and is to be funded
from existing cash resources.  Included in the assets being
acquired are two freehold manufacturing sites in Birkenhead
from which the Beaufort business operates.

The acquisition is conditional upon the Secretary of State for
Trade and Industry deciding not to refer the proposed
transaction to the Monopolies and Mergers Commission.

Beaufort, designs, manufactures and markets specialised
submarine escape equipment, anti-G suits and a range of
immersion, abandonment and transportation suits for military
and civil use which Wardle Storeys' Inflatable Systems Division
("ISD") does not currently manufacture.  Beaufort also
manufactures inflatable liferafts and lifejackets of the same
kind as those already produced by ISD.  The complementary
product strengths and market profile of the Beaufort business
are a strong industrial fit with ISD.

Included in the assets being acquired is the entire issued
share capital of Beaufort Air-Sea Equipment Limited ("BASE")
which holds a 50% interest in the ordinary share capital of
Dunlop Beaufort  Canada Limited ("DBC").  DBC is licensed by
BASE to manufacture and supply liferafts in Canada and also
services liferafts and fire safety equipment.  The other 50% is
owned by a Canadian company, Seots Industrial Limited, which
manages DBC on a day to day basis.  The arrangement with DBC
will strengthen ISD's already expanding business in North
America.

At Beaufort's last financial year end, 31 December 1996, the
unaudited financial statements showed that the business,
including Beaufort's share of DBC's results, made a profit
before interest and tax of #1.3 million on sales of #8.2
million and the book value of the net assets being acquired by
Safety & Survival was #3.0 million.  At 31 December 1996 the
audited consolidated financial statements of DBC showed a
profit before taxation of CAN$1.1 million on sales of CAN$8.6
million.

Commenting on the acquisition, Brian Taylor, Chief Executive of
Wardle Storeys said:

"This acquisition represents a further significant move to
develop the scope and size of our Inflatable Systems Division.
It will strengthen Wardle Storeys as a whole by improving the
balance of size between the Group's three Divisions.  We will
continue to pursue our strategy of judicious acquisitions of
related businesses offering scope for significant performance
improvement and financially attractive returns without recourse
to issuing new shares."


Enquiries:

Brian Taylor             Wardle Storeys plc       01206 392401
Russell Ross-Smith       Brunswick                0171 404 5959


END