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Aalberts buys semiconductor sector supplier IDE for undisclosed sum UPDATE


Published :
Tue, 08 Jan 2008 08:59
By : Agencies
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(Adds CFO's comments on war chest)

AMSTERDAM (Thomson Financial) - Aalberts Industries said it has acquired an 80 pct stake in Integrated Dynamics Engineering GmbH and 100 pct of Integrated Dynamics Engineering Inc (IDE) for an undisclosed sum.

The remaining shares are held by the founder and CEO of IDE who will stay in place with current management.

The acquisition will be effected as soon as all formalities have been finalised and is expected to be consolidated as of Jan 1 2008.

It will directly contribute to the growth of earnings per share.

The acquisition will be financed from own resources.

Aalberts Industries chief financial officer John Eijgendaal said Aalberts still has a war chest of about 350 mln eur for further acquisitions in 2008.

'We are always looking to strengthen our position in Industrial Services and Flow Control,' Eijgendaal said.

IDE is involved in the development and supply of environmental disturbance control systems for the semiconductor and lithography industries.

Aaron Gray-Block; aaron.gray-block@thomson.com

agb/agb/jlc

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Copyright Thomson Financial News Limited 2007. All rights reserved.

The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.




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