Medium Wave Transmission Network News

Vosper Thornycroft (VT) announces that it has agreed to acquire Merlin for approximately $136 million USD ($94 million GBP). Merlin’s principal business is the facilities management of communications operations, primarily for the BBC in relation to the BBC World Service and for the Ministry of Defense (MOD). It also operates a global short wave and medium wave transmission network. Merlin will complement and extend VT’s existing skills and experience in the provision of technical services and is and important step towards VT’s target to more than double turnover from its support services business over the next 3 financial years. For the year ended March 31, 2001, Merlin reported operating profit, excluding a business to be discontinued, of $7.2 million on turnover of $74.6 million.