Elpro Acquired by MTL Instruments

The MTL Instruments Group plc (www.mtl-inst.com) announced on May 17 that it has acquired all the shares in Elpro International Pty Ltd (www.elpro.co.in), an Australian-based developer and supplier of wireless solutions, from the Queensland Development Fund and directors of Elpro. The total consideration of U.S.$23.5 million includes repayment of bank and shareholder loans of about $U.S.$1.2 million and U.S.$900,000 respectively.

Jun 13th, 2007

MTL is a Luton, England-based provider of intrinsic safety explosion protection devices, fieldbus technology and surge protection products. Elpro is a global provider of wireless solutions for applications in the process control, manufacturing and utility markets.

“We are delighted to have been able to acquire Elpro. Wireless technology is forming an increasingly important part of the signal and data communication layer on modern process plants. MTL is already a leading supplier of components for this communication layer and now, with the addition of Elpro, we can provide interconnect solutions using all major technologies, including traditional analog, Foundation Fieldbus, Industrial Ethernet, optical and wireless,” said MTL Chief Executive Graeme Philp. “This acquisition positions MTL well for continued growth and success in this important area.”

In the year to June 30, 2006, Elpro achieved a pre-tax profit of about U.S.$985,000 on sales of U.S.$6.7 million.