Spirax-Sarco Engineering plc (SPX.L) announced that, through its newly formed subsidiary company SPIRAX Inter Valf Sanayi ve Ticaret Limited Sirketi or Spirax Intervalf, it has acquired the business and assets of Inter Valf Sanayi ve Ticaret Limited Sirketi, based in Istanbul.
The initial purchase consideration of Turkish Lira 6.7 million or £2.8 million. The company expects the transaction to make a small positive contribution to Group earnings in the second half of 2009.
Intervalf is Spirax Sarco's exclusive distributor for Turkey and has during the last 13 years grown the Group's share of the Turkish market.
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