Amadeusz Juskowiak

Senior engineering makes 125 mln dlr us purchase

Senior Engineering Group Plc said it reached agreement with Cronus Industries Inc to acquire the whole share capital of South Western Engineering Co for 125 mln dlrs cash This sum is being financed by a term loan

South Western is one of the USs leading manufacturers of heat transfer equipment with a turnover of 5486 mln dlrs and pretax profits of 172 mln in 1986

Completion of the deal is conditional on approval under US HartScottRodino regulations which is expected within 30 days Some 350000 dlrs is payable immediately 12 mln dlrs payable on completion with the balance due by June 30 1987