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SMT Scharf AG acquires two suppliers of mining equipment from Billington Holdings plc

Wednesday, May 5th, 2010

SMT Scharf AG (German Securities Code (WKN) 575198, ISIN DE0005751986), technology and world market leader for rail-bound railway systems for the mining sector, has acquired a 100% interest in two UK-based suppliers of mining equipment from Billington Holdings plc (ISIN GB0000332667) for around € 2.0 million. Corresponding agreements were signed 4 May 2010. Dosco Overseas Engineering Ltd. is a specialist for roadheaders. The other company acquired by SMT Scharf, Hollybank Engineering Co. Ltd., supplies underground roadway supports. The two companies together recorded revenues of around € 14 million in 2009 and slightly negative earnings. Their main customers are coal mines, but also other types of mines and tunneling companies.
With this sale of its two subsidiaries, both based in Nottinghamshire, in future Billington Holdings plc will focus on its core business of structural steel in Great Britain. SMT Scharf adds a products range that complements its core business of rail-bound railways in terms of both customers and technologies. The acquisition is expected to positively impact the SMT Scharf Group’s earnings already in the current year.
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