Habasit acquires Charles Walker Ltd.

HABASIT ACQUIRES CHARLES WALKER LTD. Habasit AG announced the acquisition of a majority of the equity of Charles Walker Holdings Limited of Bingley, Great Britain. Both parties have agree
d not to disclose the price of the acquisition.

The Habasit Group is a leading supplier of conveyor and transmission belting with 18 operations throughout the world. Charles Walker is a major UK manufacturer of these products.

The current management of Charles Walker, including the Chairman, Dr David Belford and the Managing Director, Mark Wilcock, will be continuing in their present positions. The Habasit Group already own Habasit (UK) Ltd based in Corby which is a supplier of transmission and conveyor products to the printing, postal, paper and textile industries. This is complementary to Charles Walker's position as a supplier of conveyor belting to food processors, logistics and automobile applications.

Both companies will continue with separate sales forces in the UK. The Habasit Group intends to provide additional resources to develop the Charles Walker operation and Charles Walker products will continue to be marketed through existing distributors throughout the world.
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