Gardner Denver to acquire Nash_Elmo
- Publisher
- Elsevier Science
- Year
- 2004
- Tongue
- English
- Weight
- 193 KB
- Volume
- 2004
- Category
- Article
- ISSN
- 1359-6128
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Hamworthy KSE Group
Ltd has floated on the Alternative Investment Market (AIM) of the London Stock Exchange.
Parent company Nikko Principal Investments had originally planned to sell a 75% stake in the company but strong demand from institutional investors saw Nikko sell the whole of its investment. Renamed Hamworthy plc, the Poole, UK-headquartered company was valued at ยฃ40.3 million on the first day of trading.
Commenting on the decision to float on AIM, Hamworthy plc chief executive Kelvyn Derrick said that the move would help to take the company forward into the next phase of its development and capitalize on the "fantastic market opportunities that are out there." "As well as continued organic growth, we can seize the opportunity to consolidate what is still a fragmented industry through acquisition," said Derrick. He thanked Nikko for its support and advice over the last four years and said that they were pleased that James Wilding of Nikko had agreed to remain on the board. Nikko acquired Hamworthy in 2000 through
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