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Share Name | Share Symbol | Market | Type |
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Boiron | EU:BOI | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.05 | 0.15% | 33.90 | 33.85 | 33.95 | 34.65 | 33.60 | 34.65 | 3,203 | 16:06:29 |
RNS Number:0427N Biotrace International PLC 02 July 2003 For Immediate Release: 07:00 am, 2nd July 2003 BIOTRACE INTERNATIONAL PLC EXPANSION OF EUROPEAN DISTRIBUTION ORGANISATION through acquisition of a Danish supplier of specialist microbiology and life science products Biotrace International Plc ('Biotrace', the "Company" or the "Group"), a leading manufacturer and provider of specialised products and services for microbiology and life sciences, today announces that it has acquired Maltec ApS ('Maltec'). Based in Copenhagen Denmark, Maltec supplies a range of microbiology and life science products, including the Group's Ruskinn product range, to the food, pharmaceutical and healthcare industries. The acquisition of Maltec continues the Group's strategy of gaining direct customer access in major geographies and strengthens the Company's position in the Scandinavian market. Together with Biotrace's existing European sales subsidiaries the Group's products can be sold directly in the UK, France, Denmark, Sweden and Norway. The Scandinavian market has assumed greater importance to the Group due to the high concentration of pharmaceutical companies in the region as well as a large dairy industry. For the year ended 30 June 2002, Maltec achieved sales of DKK6.5M (#0.61M) and made a pre-tax profit of DKK0.2M (#0.02M). Maltec had approximate net liabilities of DKK1.1M (#0.11M) at the date of acquisition. The consideration for Maltec has been satisfied by an initial cash payment of #1, with the Company assuming Maltec's existing liabilities, including a director's loan of DKK0.7M (#0.07M). There is potential for Biotrace to pay an additional cash sum of up to #0.43M by 2006, depending on Maltec's business meeting certain performance milestones. Maltec's founder, Mr Malte Jacobsen will continue to run the business and will receive an incentive by way of a warrant for 50,000 ordinary shares in Biotrace at 118.5p exercisable between 2006 and 2010. Ian Johnson, Chief Executive of Biotrace, commented: "The Group is making good progress in its plans to invest in direct customer access in major European markets and to leverage relationships with key customers. This strategy will enable Biotrace to expand the range of products offered, making the Group a 'one stop shop' for innovative microbiology products. I look forward to building on the progress made by Mr Jacobsen and the staff of Maltec and establishing a leading position in the Scandinavian market. "With respect to the first half of 2003, as expected, the Group has experienced strong growth in sales and profits over the same period in 2002, through a combination of organic growth, acquisitions and increased defence sales. Management anticipate that the Group's performance overall for the year remains in line with expectations." - ENDS - For further information, please contact: Biotrace International Ian Johnson, Chief Executive Officer Tel: +44 (0) 1656 641 400 Peter Morgan, Finance Director Buchanan Communications Tel: +44 (0) 20 7466 5000 Nicola How / James Strong Notes to editors: Biotrace International Plc is a leading manufacturer and supplier of rapid microbiology instrumentation and test reagents to food, industrial, healthcare and defence markets. Biotrace is the acknowledged leader in rapid hygiene testing and the continuous real-time detection of airborne biological weapons. Many of the world's leading food manufacturers and catering companies, including 19 out of the top 20 world food groups now rely on Biotrace as an essential part of their quality procedures. Industrial customers include many of the world's largest water treatment chemical multi-nationals. Biotrace also supplies highly specialised products to pharmaceutical companies, hospitals, public health laboratories and medical research institutes for the detection of hazardous micro-organisms and diseases. A significant part of the Company's business is the manufacture and supply of equipment and reagents to the UK MoD for the detection of biological weapons. Formed in 1988 and floated on the London Stock Exchange in 1993, Biotrace intends to continue to broaden its business base through organic growth and acquisition of products and technologies to become a 'one stop shop' for its large and growing customer base. This information is provided by RNS The company news service from the London Stock Exchange END ACQILFVDDSILIIV
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