COMPANY NEWS

New acquisition for Denison Hydraulics

Denison International reports that it has acquired 100% of the shares of Lokomec. Located in Finland, Lokomec employs 50 people and is Scandinavia’s largest producer of manifold systems. It has the capability to design and manufacture both manifold blocks and fully assembled and tested systems. The new company will operate under the name Denison-Lokomec in Finland, and adds an extra dimension to the Denison Hydraulics group of companies by further extending its in-house capabilities.

Festo signs up first Premier Stockist

Festo has officially recognised J.Ll Leach as the first of its Premier Stockists. The completion of the deal marks the beginning of a major new programme of resale agreements for Festo, following the recent strategic restructuring of its resale network. By signing the new Resale Network Agreement as the inaugural Premier Stockist, J.Ll Leach is the first in a series of carefully selected companies to endorse its close working relationship with Festo. The agreement helps to ensure that both companies are recognised as `best in class’ in their resale performance within the pneumatics marketplace, allowing time, cost and expertise benefits to be passed directly to customers.

Failure of Corporate Resolve confirmed

Focus Dynamics has successfully fought off a hostile take-over bid by UK investment company, Corporate Resolve. The company has withdrawn its offer for the entire issued share capital of Focus Dynamics. The defence which Focus raised asked serious questions about the credibility of Corporate Resolve’s offer, and in particular its ability to fund its cash offer.