Senior plc Acquires 100% Of Weston EU Limited And Subsidiary; Sees FY 2011 Profit Outlook In Line With Previous Expectations

Senior plc announced that it has acquired 100% of the issued share capital of Weston EU Limited and its subsidiary Weston SEA Limited (collectively Weston or the Weston Group) from the company's family shareholders. The facilities in Thailand are well situated, within one hour's drive of Bangkok and close to the main port of Sriracha, and were unaffected by the recent floods. The total consideration for the purchase of Weston was GBP54.0 million, plus reimbursement of the cash in the Weston business at acquisition. Gross assets of the business are approximately GBP23.5 million. The existing management team will continue to manage the business which will operate within Senior's Aerospace Structures Division. The Board continues to expect that fiscal 2011 adjusted profit before tax will be in line with its previous expectations and, assuming anticipated market conditions prevail, believes the Group remains well positioned for further progress in 2012 and beyond.