acquisition Acorn Group in United Kingdom

Aalberts Industries has reached agreement with the shareholders of UK-based Acorn Group on the takeover of all the company’s shares.

Acorn has three surface treatment service centers - two in the UK and one in Australia.

With sales in the region of eur 9 million and 150 employees, Acorn is one of the leading players in the UK market.

Acorn specializes in silver coatings that are applied to components used in telecoms infrastructure (filters). Acorn also has a great many applications for a range of surface treatments.

The medical, aviation and defense industries are important markets in which Acorn operates.

Despite the worldwide slowdown in the growth of telecoms, its most important market, Acorn’s high-tech specialization will enable the company to maintain its position without difficulty and improve it in the short term.

Acorn will be part of the AHC Group, and the existing management will report to the AHC Group board.

The takeover is in line with Aalberts Industries’ strategy of building up a European network of service centers for material technology as part of its Industrial Services activities.

The combination of the silver coating operations of Acorn together with the existing activities in this area, gives Aalberts Industries a leading position in the telecoms market, with significant growth potential as soon as the market picks up.

The takeover will be financed out of the company’s own resources and contribute to the growth in the profit per share. The figures will be included in the consolidation as of 1 July 2001.