Acquisition Flexible Hose Supplies (UK)From
Executive Board ERIKS group nv
+31-72 54 75 888
9 July 2007
ACQUISITION FLEXIBLE HOSE SUPPLIES (UK)
Following the acquisition of WYKO in November 2006 and in line with ERIKS’ strategy to take a strong market share for all core activities in all regions where the group has its own branch operations, we have reached an agreement to acquire Flexible Hose Supplies (FHS) in the United Kingdom.
ERIKS group nv has acquired the entire share capital of G & C S Holdings Ltd., statutorily based in Toddington, United Kingdom. G & C S Holdings Ltd. owns 100% of the shares in the three operating companies of FHS based in Slough, Bolton and Northampton.
The activities of FHS comprise the marketing, sale and the customising of products and services in the field of industrial hoses. With a total of 45 employees based in the head office in Slough and the branches in Bolton and Northampton FHS achieve annual sales of GBP 5.1 million. For MRO sales are particularly focussed in the food, specialist chemicals and petrochemical sectors. In the OEM market FHS serves many high tech customers in markets such as fire safety and healthcare.
Sales by product group can be broken down as follows:
- Hose assemblies (PTFE, stainless steed, hydraulic, etc.) 37%
- PVC hoses 31%
- Metallic, pneumatic, silicone, rubber hoses 24%
- Miscellaneous products and services 8%
Please refer to our website www.eriks.com for detailed information about ERIKS group.
For further information please contact Mr. J. van der Zouw, CEO and/or Mr. J.G. de Boer, CFO