News releaseTomkins plc acquires A.E. Hydraulic (Pte) Ltd.Tomkins plc announces today that it has acquired A.E. Hydraulic (Pte) Ltd., a provider of hydraulic and industrial hose solutions and services for the oil exploration industry in Asia. This acquisition builds on our Fleximak business and will enable Gates to accelerate its market expansion into the high-growth market for oil and gas exploration. A.E. Hydraulic (Pte) Ltd. is based in Singapore and had annual sales and gross assets of approximately US$14.3 million and US$5.8 million respectively in 2007. James Nicol, Chief Executive Officer of Tomkins, commented: “I am pleased to announce this strategically important acquisition in Asia. A.E. Hydraulic (Pte) Ltd. provides our Gates business with a distribution network through which we can channel some of our other hose and fittings products, while building out our service platform in the high growth market for oil and gas exploration.” Tomkins is a world class global engineering and machinery group with market and technical leadership across two business groups: Industrial & Automotive and Building Products. Tomkins ordinary shares are listed on the London Stock Exchange under the symbol TOMK and also trade in ADR form on the New York Stock Exchange under the symbol TKS. Enquiries: Tomkins plc Finsbury PR Advisors |
