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AEA Technology plc
28 August 2008
AEA TECHNOLOGY PLC
COMPLETION OF PROJECT PERFORMANCE CORPORATION ("PPC") ACQUISITION AND BOARD APPOINTMENT
The Board of AEA Technology plc ("AEA") is pleased to announce that all of the conditions of the Acquisition Agreement between AEA, AEA Technology North America, Inc, PPC and the shareholders of PPC, including the conditions relating to the US Hart Scott Rodino Anti-trust Improvements Act 1976 and the Exon-Florio Amendments to the Defense Production Act 1950, have been satisfied or waived and the Acquisition has completed.
In addition, the Board of AEA is pleased to announce that, as previously indicated Michael Nigro now joins the Board of AEA as Chief Operations Officer and President of US Operations.
Mr Nigro has no directorships discloseable under LR 9.6.13 (1). Following completion of the Acquisition, Mr Nigro will hold 1,965,424 ordinary shares in AEA. There are no other matters to report under LR 9.6.13 (2-6).
Commenting on today's announcement, Andrew McCree, Group Chief Executive of AEA, said:
"We are pleased to announce the completion of this transaction which gives AEA access to the US market. The combination of both organisations is an exciting prospect; AEA's environmental capability combined with PPC's IT and Data management know how put us in a position second to none. PPC have a quality management team with a proven record of growth and we are delighted to have completed this important acquisition and officially welcome PPC into the Group and Mike Nigro to the Board."
Enquiries:
AEA Technology plc
Andrew McCree, Group Chief Executive Tel: 0870 190 8137
Alice Cummings, Group Finance Director
Madano Partnership (public relations) Tel: 020 7593 4000
Matthew Moth
Charles Reynolds
Graham Moonie