Home
Up

domnick hunter has announced that it has purchased the entire issued share capital of both PTI Advanced Filtration Inc, based in Oxnard, California, and PTI Technologies Limited, based in Sheffield, England from ESCO Technologies Inc. The acquired businesses, which operate in similar business sectors to domnick hunter, design and manufacture filtration products that are sold to a well established customer base in the fine chemical, food and beverage, microelectronics, electrocoat, nutraceutical and OEM medical markets.

domnick hunter will integrate the acquired businesses into its Process Operations providing the enlarged business with a broader product portfolio which presents many cross-selling opportunities and an increased sales and technical capability, particularly in North America. Going forward, the acquisition gives domnick hunter access to additional membrane technology, enhanced research and development capability, an established manufacturing base in the United States and a significant opportunity to develop future organic growth.

The combined unaudited results of the acquired businesses for the year ended 30 September 2003 show turnover of £18.4m, gross profit of £3.6m, an operating loss of £4.0m and net assets as at 30 September 2003 of £14.3m. The full integration of the acquired businesses with existing Group operations will take time and resource but is expected to be complete during the first half of 2005. During this period the costs associated with the integration and progressive operational improvement within the acquired businesses towards a break-even target will adversely impact Group pre-tax profits; thereafter a positive contribution is anticipated.

Colin Billiet, Group Chief Executive, said: "I am delighted that we have concluded this acquisition which fits well with, and further enhances, the Group’s established organic growth strategy. It is an excellent strategic move for Process Operations and provides our first manufacturing base in the United States. Process Operations will benefit from an expanded product portfolio and additional membrane technology, which will aid future growth."

domnick hunter, Process Filtration based in Birtley, County Durham is pleased to announce that it has been awarded the Queen’s Award for Enterprise within the ‘International Trade’ category. This award confirms domnick hunter’s commitment to finding creative and innovative solutions to the problems associated with the clarification and sterilisation of liquids and gases. domnick hunter is now well established as a world-class manufacturer of process filtration products.

In response to growing worldwide demand for its products, domnick hunter has significantly increased its manufacturing capacity by recently completing phase 1 of a £3.5 million investment at the Birtley site. In addition, the recent purchase of PTI Advanced Filtration, with manufacturing facilities in both the USA and UK, will ensure the company will at least double turnover in the next three years.

Jeff Porter, Managing Director at domnick hunter, Process Filtration believes the award comes at an exciting time for the company. "This award is great recognition of the hard work and dedication of domnick hunter’s employees, who are committed to making our company a success. As demand for our products increases around the world we will continue to expand our manufacturing operations, support services and further invest in innovative products."

domnick hunter, Process Filtration specialises in the manufacture of microfiltration products for the clarification, stabilisation and sterilisation of liquids and gases. Microfiltration products are widely used in the pharmaceutical and fine chemical industries as well as in food processing and beverage production.

domnick hunter, Process Filtration is part of domnick hunter Group PLC. Founded in 1963, domnick hunter group manufactures in 9 locations worldwide, employing over 1,700 people, there are 32 overseas locally managed sales and support operations in 25 countries. Committed to quality and performance, domnick hunter, Process Filtration is registered to ISO9001:2000 and ISO14001. For more information, please contact Nicola Crowe (nicola.crowe@domnickhunter.com).