Groupe Gorgé announces today the acquisition of a 15.15% stake in the capital of REDHALL Group on the AIM market of the London Stock Exchange. This strategic transaction parallels the signature of a commercial partnership between the two groups.
REDHALL Group is an engineering group based in the United Kingdom. Founded over a century ago, the group employs over 1,600 people and specialises in engineering and support services in niche markets mainly such as hostile or high safety and security constraints environments. The group's principal markets include defence and nuclear sectors (For further information, see http://www.redhallgroup.co.uk). REDHALL Group reported a turnover of £127 million for the year ended 30 September 2011.
REDHALL Group is one of the few companies in the nuclear sector with specialist skills in decommissioning and has a significant presence at Sellafield, the largest nuclear power plant in the United Kingdom. REDHALL Group has also positioned itself to benefit from the construction programme of third generation nuclear plants in the United Kingdom. Its unique skills and resources have already enabled the group to secure several commercial agreements with French companies such as NUVIA (Groupe Vinci) or ACPP for construction of stainless steel pond liners.
Commercial partnership between REDHALL Group and Groupe Gorgé on high security doors for use in future reactors
Within the dynamics of the Franco-British partnership on the construction of a large number of third generation plants in the United Kingdom, Nucléaction (Groupe Gorgé's subsidiary) and Booth Industries (REDHALL Group's subsidiary specialised in high security doors) have signed a Heads of Terms for a commercial agreement to cooperate on the market of doors and partition systems for use in the future British nuclear plants. This market is estimated by REDHALL Group at £50 million per reactor.
This partnership will enable both groups to capitalize on Groupe Gorgé's unique expertise in doors for use in third generation nuclear plants on the one hand and on REDHALL Group's human resources and knowledge of the nuclear market in the United Kingdom on the other hand. This cooperation will assure clients of having access not only to the best technical solutions developed in France but also to local means to execute, install and maintain systems.
Details of entry of Groupe Gorgé into REDHALL Group's capital
On 1 March 2012, by acquiring a block of shares on the AIM market of the London Stock Exchange, Groupe Gorgé increased its total stake in REDHALL Group to 4,522,000 shares representing 15.15 % of the capital, making it the largest shareholder of REDHALL Group ahead of two institutional holders who hold respectively 15% and 12%. The shares were acquired at the average price of 97.40p per share.
This acquisition results from a willingness to strengthen the on-going commercial partnership and more generally to reinforce the ties between the two groups whose markets are highly complementary. For several years, the United Kingdom and France have developed their cooperation in the defence and nuclear sectors. Such increased closeness should enable new joint commercial opportunities to arise.
Pursuant to Rule 2.8 of the UK City Code on Takeovers and Mergers, Groupe Gorgé states that it has no current intention to make a public offer for REDHALL Group.
About Groupe Gorgé
Founded in 1990, Groupe Gorgé is an industrial group operating in 3 main sectors:
Smart Safety Systems - Using technology to adequately react in hostile and security constraints environments. Groupe Gorgé holds a 52,65% stake in ECA, a company listed on NYSE Euronext Paris - Compartment C.
Protection in Nuclear Environments - Protecting people and buildings in radioactive environments.
Industrial Project Services - Implementing industrial projects in the industry and services markets.
The Group reported a turnover of ¤228,0 million in 2011, a 17,6% increase from 2010. Groupe Gorgé employs over 1,200 employees and operates in over 10 countries worldwide.
More details on www.groupe-gorge.com
Groupe Gorgé is listed on NYSE Euronext Paris Compartment C
Code ISIN : FR0000062671
Mnémo : GOE
Groupe Gorgé - Raphaël GORGÉ - CEO - Tél. : 01 44 77 94 77 - E-mail : firstname.lastname@example.org
Actus Finance - Anne-Pauline PETUREAUX - Analyst/Investors - Tél. : (0033) 1 53 67 35 74 - E-mail : email@example.com
Actus Finance - Jean-Michel MARMILLON - Press Relations - Tél. : (0033) 1 53 67 07 80 - E-mail : firstname.lastname@example.org
Communiqués au titre de l'obligation d'information permanente :
- Activité de l'émetteur (acquisitions, cessions...) Communiqué intégral et original au format PDF :
http://www.actusnews.com/documents_communiques/ACTUS-0-26930-cp-groupe-gorge-050312.pdf © Copyright Actusnews Wire
Recevez gratuitement par email les prochains communiqués de la société en vous inscrivant sur www.actusnews.com
Receive by email the next press releases of the company by registering on www.actusnews.com, it's free
|GROUPE GORGE||Euronext Paris||20.17 (c)||-3.31%||40 248|