Brammer Enters Poland to Start Buying Spree

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May 17,2007

Brammer Enters Poland to Start Buying Spree The pan-European industrial group Brammer has bought a controlling stake in a Polish industrial services business and has signed letters of intent to buy a total of five businesses with a combined turnover of Euro 35m. Brammer has bought a 51% stake in Poland’s Fin SA group, which sells components such as motors, belts, couplings, bearings, and chain. Brammer has made a commitment to acquire the remaining 49% by 2012. The acquisition gives Brammer a market-leading position in Poland, and increases the number of countries in which it operates to 12. Fin, which reported sales worth £17.5m last year, has 165 employees working at 11 branches. Chief executive Ian Fraser told the Reuters news agency that he hopes to confirm the five planned acquisitions "in the next few months". He declined to say where the target companies are based.

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