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THE DEAL Following its November 2000 financing of the purchase of Powell Duffryn Plc, NPIL announced plans to dispose of the Group's engineering interests. In December 2001, an agreement for the disposal of Hamworthy Heating for £11.2 million was finalised. THE NPIL DIFFERENCE NPIL initiated the legal separation of the heating businesses from other parts of the Group to achieve value maximisation. We then worked closely with the management teams and advisers to successfully drive through the disposal process. THE BUSINESS Hamworthy Heating is the UK's leading supplier of heating systems to the commercial building market. Based in Poole, Dorset, the company employs 140 people and has reported revenue of approximately £17 million (FY 2001). The company has a strong product range, an experienced direct sales team and a reputation for proven reliability and technical excellence. Products range from 44kW to 1,172kW and are modular in nature. This enables a number of boilers to be joined together to service the duty required: providing for both efficient turndown and a degree of redundancy in the event of the failure of one the boilers in an array. It also allows for easy installation in even the most space-constrained buildings. Engineering and assembly are based in Poole and Birmingham, with a service network throughout the UK. A strong development programme enables the company to maintain and grow its competitive advantage. Visit the Hamworthy Heating Website 
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STATUTORY AND REGULATORY INFORMATION | |
© 2008 NIKKO PRINCIPAL INVESTMENTS LTD |
