Closing of the Fire Eater A/S acquisition
Further to Stock Exchange release of 20 December 2007 and Extended Stock Exchange release of 23 January 2008, Simtronics ASA, the Norwegian fire and gas safety company, announced today that closing of the acquisition of 51 % of the shares in Fire Eater A/S took place as scheduled on 18 February, as the terms earlier announced.
[19.02.2008]
"The acquisition is a major step in fulfilling Simtronics growth and diversification strategy. Fire Eaters products are highly complementary to our own, and the acquisition gives us improved market penetration, a broader product range and releases considerable synergies", said Simtronics CEO, Rune Martini.
An Information Memorandum with regards to the acquisition will be released at a later stage, in accordance with section 3.5 of Oslo Børs' Continuing Obligations.
For further information please contact:
Rune Martini, CEO Simtronics ASA,
Phone +47 48 07 80 80
Simtronics ASA (Oslo Stock Exchange: SIMTRO) works to prevent disasters from happening. The company is an international supplier of fire and gas safety systems, active fire fighting solutions and fire prevention systems. Simtronics' flame and gas detectors represent the most accurate, reliable and robust safety technology available. The Company's products are used by the oil and gas industry as well as in shipping, petrochemical and other process industries and in mining. Simtronics has a well established market base in Europe with Norway, France, UK and Germany as the single most important markets. Simtronics' heritage goes back to 1948.