Business
Acquisition of Maritime Engin
Acquisition of Maritime Engin.
About this update from James Fisher And Sons Plc
[{"type":"text","content":"\n RNS Number : 3826X Fisher (James) & Sons PLC 06 December 2010 \n \n\n \n \n \n \n \n \n \nMonday 6 December 2010\n \n \nJAMES FISHER AND SONS PLC\n \nAcquisition of Maritime Engineers\n \n \nJames Fisher and Sons plc today announces the purchase by its subsidiary, JF Australia Holding Pty Ltd, of Maritime Engineers Pty Ltd (\"Maritime Engineers\" or the \"Company\"), Perth, Western Australia, for a total consideration of £1.4 million in cash. \n \nMaritime Engineers, previously a family owned company, is a leading independent marine engineering consultancy and inspection company in Western Australia. With 10 qualified marine engineers or naval architects, its consultancy work covers a wide range of clients active in the marine sector in the region. Clients include commercial and naval ships, companies working in the offshore energy market, banks and insurance companies. The Company complements the existing activities of Fendercare in Australia and is expected to expand its business elsewhere in the Asia Pacific region. \n \nMaritime Engineers had turnover of £1.1 million in the year to 30 June 2010 with net profit before tax of £0.27 million. Net assets on the date of completion were £0.35 million.\n \nTim Harris, Chairman of James Fisher and Sons plc, said:\n \n\"We have set our sights on expanding our marine service companies in Australia and Asia Pacific. This small acquisition fits neatly into these plans and follows our recent acquisitions of ACM and RigCool.\"\n \nE C Hambro Rabben & Partners has acted as corporate adviser to James Fisher and Sons plc.\n \n \nContacts\n \n\n\n\n\nJames Fisher and Sons plc\n \n\n\nTim Harris\n\n\nChairman\n\n\n020 7614 9508\n \n \n\n\n\n\nFendercare Marine Solutions \n \n\n\nEric Plane\n\n\nManaging Director\n\n\n01508 482 691\n \n \n\n\n\n\nEC Hambro Rabben & Partners\n\n\nEivind Rabben\nPeter Donald\n\n\n \n\n\n020 7355 4100\n \n \n \n\n\n\n\nFinancial Dynamics\n \n\n\nRichard Mountain\n\n\n\n\n\n020 7269 7186\n\n\n\n\n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END ACQKMMGZVFNGGZM \n ","length":5531,"tagName":"div"}]