Panostaja Oyj
PANOSTAJA ACQUIRES BEWATOR OY AND EXPANDS ITS LOCK AND SECURITY BUSINESS AREA
Panostaja Oyj / Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Panostaja Oyj Stock Exchange bulletin 30.4.2009 10:35 A.M PANOSTAJA ACQUIRES BEWATOR OY AND EXPANDS ITS LOCK AND SECURITY BUSINESS AREA Panostaja Oyj has today signed an agreement by which it purchases the entire share capital of Bewator Oy, a supplier of time & attendance and access control systems, from Siemens Osakeyhtiö. In connection with the trade, the name Bewator Oy will be changed to Flexim Security Oy. Bewator Oy is one of the leading suppliers of high security technology in Finland. It provides an extensive range of time & attendance and access control systems from code locks and door/gate phone systems to integrated security solutions. Company's main customers are large corporations and public sector. Flexim Security's proprietary product offering comprises Sesam, Secal and Flexim time & attendance and access control systems. In addition, the Company is a reseller of Bewator's access control systems and products, and Siemens's CCTV products in Finland. Bewator Oy employs 47 persons, and its main office is in Helsinki. The regional offices are located in Turku and Tampere. The total purchase price is estimated at EUR 8.1 million. The final purchase price will be settled by 29th June, 2009. EUR 6.9 million of the purchase price will be paid at closing. The remaining EUR 1.2 million will be paid in three conditional instalments within the next three years. Panostaja's lock and security business area already includes LukkoExpert Security Oy, which is a company specialising in locking, door automation and security technology. The goal of the business area now complemented by the newly acquired Bewator is to become the top provider of door technology and security solutions in Finland. The new combination will provide it's clients access control and security systems on a centralized service package basis. 'Both Bewator and LukkoExpert Security have been leading players in their parts in the Finnish security systems market for decades. The acquisition will significantly strengthen the product and service range of the new entity. Our goal is to create new operational models that would give a considerable boost to our client's process and cost efficiency,' explains Jukka Laakso, Managing Director of LukkoExpert Security. Bewator's net sales and profits of the fiscal periods October 1, 2007 to September 30, 2008 and October 1, 2006 to September 30, 2007 were as follows (FAS): (thousand Euro) Oct 1 to Sep 30, 2008 Oct 1 - Sep 30, 2007 Net Sales 11.612 10.116 Operating profit 1.523 927 The Balance Sheets as of September 30, 2008 and September 30, 2007 were as follows: (thousand Euro) Sep 30, 2008 Sep 30, 2007 Fixed assets 303 153 Current assets 4.016 4.620 Total 4.319 4.773 Equity 2.904 3.379 Liabilities 1.415 1.394 Total 4.319 4.773 The acquisition is expected to have a positive effect on the Panostaja Group's current fiscal period earnings as well as on earnings and equity per share. After materialisation of the final financing of the acquisition, the deal is expected to decrease the company's equity ratio by some one percent. Panostaja Oyj Juha Sarsama CEO Additional information: Juha Sarsama, Chief Executive Officer, +358 40 774 2099 News Source: NASDAQ OMX 30.04.2009 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Panostaja Oyj Finland Phone: Fax: E-mail: Internet: ISIN: FI0009800379 WKN: End of News DGAP News-Service ---------------------------------------------------------------------------
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