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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Mtl Instruments | LSE:MTI | London | Ordinary Share | GB0005507768 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 705.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:6442A MTL Instruments Group PLC 23 July 2007 The MTL Instruments Group plc acquires Ocean Technical Systems Limited for #3.0m The MTL Instruments Group plc ("MTL") announces that it has acquired Ocean Technical Systems Ltd, ("OTS"), the UK-based specialist in SCADA (Supervisory Control and Data Acquisition) solutions for the oil and gas industries, for #3.0m in cash. OTS has established a strong position as an international provider of SCADA solutions for the automation of the berthing, loading and unloading of oil tankers and oil production vessels floating production units (FPSOs), unmanned wellhead production platforms and the monitoring of oil and gas pipelines. This equipment operates in hazardous and potentially flammable environments and is, therefore, a natural fit for MTL, who have a world-leading position in the provision of hazardous area control and instrumentation equipment. Following the transaction, it is expected that the OTS business will be able to extend its international customer base by leveraging MTL's sales channels and OEM relationships. It will also have an opportunity to improve its competitiveness by utilising MTL's purchasing power and electronic circuit board manufacturing capability. The directors believe that the acquisition will be earnings enhancing in the first full year of ownership. (Note 1) Graeme Philp, MTL's Chief Executive, commented; "Ocean Technical Systems is another excellent acquisition for MTL. Over the last few years it has developed an innovative and highly competitive range of SCADA and navigation products for the automation of the berthing and loading of oil tankers and oil production vessels and the monitoring of oil and gas pipelines. By giving OTS access to its international sales team, MTL will help to accelerate the expansion of its international reach." Note 1: The statement regarding earnings enhancement does not constitute a profit forecast nor should it be taken to mean that the earnings per share of MTL in the year ending 31 December 2007 will necessarily match or exceed the historical earnings per share of MTL. For Further Information: Graeme Philp, Chief Executive, 01582 407250 Bill Greenhalgh, Finance Director, 01582 407227 The MTL Instruments Group plc Terry Garrett / Stephanie Badjonat 020 7067 0700 Weber Shandwick Financial End: 23 July 2007 This information is provided by RNS The company news service from the London Stock Exchange END ACQBRGDRLGDGGRG
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