Poland Leading Bearing Distributor Acquiring Fin S.A.

Resource from: CBCC Likes:2996

Feb 26,2007

Poland Leading Bearing Distributor Acquiring Fin S.A. Brammer plc (UK; LSE: BRAM; website) announced it has reached agreement to acquire Fin S.A. (Poland). The acquisition will be in two stages; 51% now, after Polish competition authorities' approval, and the remaining 49% between 2010 and 2012. Fin S.A. is Poland's leading distributor of bearings and power transmission equipment, with 11 branches and 165 employees nationwide. Sales last year were £17.5 million. The acquisition will cost Brammer £4.9 million in the first round for 51%. The second round, for the remaining 49%, will be dependent upon Fin's interim performance -- anywhere from £4.7 million and £14.1 million. Brammer's Chairman, David Dunn, said: "We are delighted to announce the acquisition of Fin which further extends Brammer’s European market leadership. It strengthens our position in Eastern Europe and gives us a base from which to grow earnings through greater market penetration in Poland, a key industrial economy. The acquisition fits our stated strategy of acquiring quality businesses which closely fit Brammer’s established product portfolio and business strategy in order to complement the organic growth opportunities in our key account and pan-European businesses." In mid-2006, Brammer used a similar 51% / 49% pacing to acquire Belgian bearing and power transmission distributor, Aandrijvingen Ramaekers NV. With the acquisition, Brammer became Belgium's largest bearing and power transmission distributor.

()

【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.

Add to My Favorites

[Close the window]

Previous SKF Invests 600 Million Swedish Kronor in Göteborg
Next SKF® Telescopic Pillars Enable Automatic Height Adjustment(Pic)

BRIEF INTRODUCTION

Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.