E2V.L Regulatory News (E2V)

15 May 2007 07:02

e2v technologies PLC15 May 2007 e2v technologies announces the acquisition of MiCS MicroChemical Systems SA e2v technologies plc ("e2v", or "the Company"), a specialist developer and manufacturer of high technology components and sub-systems, today announced thatit has agreed to acquire MiCS MicroChemical Systems SA from Renaissence PME, Saia Burgess Electronics Holding AG, the largest investors and others, for a total cash consideration of CHF 12m (£5.0m), drawing from existing bank facilities. Based in Corcelles, a suburb of Neuchatel in Switzerland, MiCS MicroChemical Systems SA designs and manufactures specialist semiconductors primarily focusedon air quality sensors, currently used mainly in automotive applications. This silicon based gas sensing platform technology is complementary to e2v's existingsilicon based sensing technologies and its gas sensing products for industrial safety applications. MiCS MicroChemical Systems SA has significant long-term contracts in place with a number of blue chip multi-national auto manufacturers with an estimated total value of £23m over a six year period. MiCS MicroChemical Systems SA currently employs 24 people, all of whom are based in Switzerland. As at 31 December 2006 MiCS MicroChemical Systems SA had gross assets of CHF3.2m (£1.3m), and generated a loss before taxation of CHF 2.3m (£1.0m) for theyear ended 31 December 2006. The Company expects the acquisition to remain loss making post acquisition butbe earnings enhancing for the year ending 31 March 2009. Commenting on the transaction, Keith Attwood, Chief Executive of e2v, said: "Theacquisition of MiCS MicroChemical Systems SA is consistent with our strategy to extend our portfolio of specialist electronic components supplied into our established markets." For further information: e2v technologies plc Tel: 01245 493493Keith Attwood/Mike Hannantwww.e2v.com Gavin Anderson & Company Tel: 020 7554 1400Keith Brookbank/Fergus Wylie NOTES FOR EDITORS: e2v technologies plc e2v technologies is a leading designer, developer and manufacturer of specialised components and subsystems, falling within two product groups: • Electronic tubes • Sensors and Semiconductors These products enable some of the world's leading OEMs to deliver innovative systems for medical and science, aerospace and defence, and commercial and industrial applications. For the year ended 31 March 2006, e2v achieved sales of £112m and is listed on the London Stock Exchange (e2v.l). In July 2006 e2v technologies plc acquired a leading designer, manufacturer and distributor of specialised electronic components and sub-systems, based in Grenoble, France. The acquisition represents an opportunity to strengthen the Group's position as a major global provider of specialised electronic components and subsystems. e2v's products are supplied into three core market areas: • Medical & Science: Sensor technology includes imaging sensors for intra-oral and panoramic dental X-ray, mammography, life science applications and X-ray microscopy. Electronic tubes are the enabling technology behind radiotherapy cancer treatments, microwave medical therapy and high-energy physics. • Aerospace & Defence: Sensor technology includes military surveillance, targeting and guidance, space-based imaging and astronomy, radar & electronic warfare and broadband data converters and microprocessors for aerospace applications. Electronic tubes provide the enabling technology behind radars, electronic countermeasures (ECM), electronic warfare and satellite communications. • Commercial & Industrial: Sensor technology includes marine radars, industrial safety sensors, automotive radars and alarms, thermal imaging cameras used by fire fighters, CCD and CMOS high resolution line scan cameras for industrial inspection. Electronic tubes provide enabling technology behind TV broadcast, satellite communications, marine radar and food & industrial processing. The overall purpose of the business is to grow sustainable shareholder value whilst appropriately meeting the expectations of customers, people, partners, suppliers and the wider community. e2v's vision is to create value through bright ideas in technology and materials science. The Company's mission is to place customers at the heart of the business, providing enabling products of premium quality that extend technical barriers and enhance the competitive position of our partners. e2v has approximately 1,800 employees worldwide with three UK based manufacturing sites in Chelmsford, Lincoln and High Wycombe, and one in Grenoble, France. In addition e2v has sales offices in the UK, USA, Germany and France, as well as a network of distributors and representatives covering other key territories. Further information on e2v technologies plc is available from its website, www.e2v.com This information is provided by RNS The company news service from the London Stock Exchange