Chloride agrees to buy further shares in DB Power

    RNS Number : 7007V
  Chloride Group PLC
  02 June 2008
   

    2 June 2008

       
    CHLORIDE GROUP PLC

    CHLORIDE AGREES TO BUY FURTHER SHARES IN DB POWER ELECTRONICS, INDIA ("DB POWER")


    Chloride Group PLC ("Chloride" or "the Company") is pleased to announce that it has reached agreement to acquire 90% of DB Power in two
tranches, by July 2009.

    By July 2008, and following satisfactory completion of the audit of DB Power's accounts for the year to 31 March 2008, Chloride will
increase its existing holding to 49%.

    The second tranche will be acquired in July 2009, following satisfactory completion of the audit of DB Power's accounts for the year
ended 31 March 2009.

    At 31 March 2007 DB Power's total gross assets were £9.3 million.


    Commenting on the announcement, Keith Hodgkinson said:

    "DB Power is highly respected in the Indian power protection market and we are delighted to have reached this agreement to accelerate
the acquisition of the business.  DB Power's strong service network and customer base, together with its state-of-the-art manufacturing and
development capabilities provide an excellent foundation for further growth in India." 








 Enquiries:                                   Telephone:
 Chloride Group PLC                           [phone]
   Keith Hodgkinson (Chief Executive)
   Neil Warner (Finance Director)
   Tim Cobbold (Chief Operating Officer)
 Hudson Sandler                               [phone]
   Andrew Hayes/Kate Hough



    Note to editors:

    Chloride Group PLC (LSE: CHLD.L) is a world leader and the UK's number one specialist provider of critical power protection solutions
and services. Secure power is essential to ensure business continuity, and protect customers' systems and processes from the damaging
effects of poor quality electrical power, which is prevalent in most world economies, including the USA and Europe. 

    Chloride provides Total Solutions for customers' critical power protection needs, designed and tailored to their applications. Their
offer covers a combination of expert system advice, proprietary equipment (including uninterruptible power supply systems and power
conditioners), ancillary equipment (including diesel generators and control systems) and comprehensive service and maintenance packages.

    Covering a broad range of markets, Chloride supplies leading companies, for which business continuity is paramount. Market sectors
include financial services, manufacturing, government, transport, healthcare, telecoms (protecting data centres and telephone network
infrastructure), energy, petrochemicals and oil and gas (protecting equipment in refining plants, storage facilities, offshore drilling rigs
and transportation pipe lines).

    Underpinning the Company's Total Solutions approach is a commitment to providing customers with excellent after sales service and
support through a network of highly qualified engineers and technical support staff. This is backed up by Chloride's industry-leading
diagnostic system, LIFE.net.

    Headquartered in London, UK, Chloride has offices worldwide, serving blue chip customers across Europe, Asia, Australia, North and South
America.

    Chloride's strategy is to continue its focus as a pure power protection company, and to develop its capability as a Total Solutions
provider in critical power protection services.

    For further information please visit the Group's website at www.chloridegroup.com

This information is provided by RNS
The company news service from the London Stock Exchange
 
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