Halma Buys Chinese Pump Company
Baoding Longer company had a 2012 adjusted operating profit of £2.35 million ($3.73 million) with approximately 80% of sales in China. Other companies in Halma’s Fluid Technology subsector also include Bio-Chem Fluidics and Diba Industries. The acquisition adds to Halma’s fast growing Asian business. In the half year ending September 29, 2012, Halma Health & Analysis sales in China increased 68%.
Amersham, UK 1/23/13—Halma has acquired Hong Kong-based Thinketron Precision Equipment, its Chinese subsidiary Baoding Longer Precision Pump and its US subsidiary Langer Instruments. The acquisition price was £23.7 million ($37.6 million = £0.63 = $1) and deferred compensation of £3 million ($5 million). The company supplies peristaltic pumps, syringe pumps, gear pumps and pump accessories for the laboratory, industrial and OEM markets. “Sales of their products are driven by increasing demand for health care and health care research, as well as the urbanization and industrialization within China. Their significant local market knowledge and technical resources will help our Fluid Technology sub-sector accelerate growth in this important region,” said Halma Chief Executive Andrew Williams. The company will join the Fluid Technology subsector of Halma’s Health & Analysis sector. Baoding Longer’s existing management will be retained.
