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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of January 1999.
DENISON INTERNATIONAL plc
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(Translation of registrant's name into English)
Masters House
107 Hammersmith Road
London W14 0QH
England
(Address of principal executive offices)
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DENISON INTERNATIONAL PLC ANNOUNCES ACQUISITION OF LOKOMEC OY
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MARYSVILLE, OHIO, December 29 - Mr. David Weir, President and CEO of Denison
International plc (NASDAQ: DENHY) announced today the acquisition of 100 percent
of the shares of Lokomec OY.
Lokomec, located in Tampere, Finland, is Scandinavia's largest producer of
hydraulic manifolds serving the needs of a diverse group of industries including
marine, forestry, general machinery and equipment, and offshore drilling in both
the industrial and mobile sectors.
Lokomec employs 50 at its 28,000 sq.ft. facility in Tampere and has
state-of-the-art CNC machining centers.
Sales for the year ended August 31, 1998, were a record for the company at FM 62
million (USD $12 million).
"We are extremely pleased to add Lokomec to the Denison International group,"
Mr. Weir said. "Lokomec is a well-managed and profitable company that is highly
respected throughout the Scandinavian hydraulics industry. The acquisition of
Lokomec increases Denison's total systems capabilities and allows the company to
offer customers complete hydraulic solutions. It is the intention to utilize
Denison's extensive sales and distribution system to increase Lokomec's market
share in countries outside of Scandinavia. The acquisition is expected to be
immediately accretive which will help to offset the general weakness that is
being experienced throughout the hydraulics industry."
Denison International plc designs and manufactures highly engineered hydraulic
fluid power systems and components, and distributes its products and services
globally to a diverse group of original equipment manufacturers and end users in
a broad array of industrial applications, including machine tools and material
handling equipment, construction, agricultural and utility equipment, and marine
applications, including military.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
DENISON INTERNATIONAL plc
By: /s/ Bruce A. Smith
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Bruce A. Smith
Chief Financial Officer
Date: January 4, 1999
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