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
PANOSTAJA ACQUIRES BEWATOR OY AND EXPANDS ITS LOCK AND SECURITY BUSINESS AREA
| Quelle: Panostaja Oyj