RNS Number : 4209U
PAQ International Holdings Limited
14 May 2008
14 May 2008
PAQ International Holdings plc (the 'Company')
Acquisition
PAQ International Holdings Limited (tickler: PAQ.L), the AIM listed manufacturer and distributor of protective bags for mobile phones, laptops and other electrical devices, is pleased to announce that they have purchased a further 49% stake in Plato Leatherware Company Limited for HKD 9.9 million (£640,000) in cash plus 8,772,000 issued and fully paid up shares in PAQ International Holdings.
Kelvin Yau, CEO of PAQ commented 'I believe the acquisition will deliver short- and long-term synergies and benefits to the combined entity, adding that this will also increase its already well known PAQ brand in Europe. PAQ will continue to actively seek partnerships or acquisitions of other leading companies in both European and Greater China region.'
For further information:
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Kelvin Yau, Chief Executive Officer
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+852 9135 1811
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PAQ International Holdings Limited
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www.paq-intl.com
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Charity Walmsley / Dominique Doussot
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+44 (0) 207 060 1760
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Zimmerman Adams International Ltd
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www.zimmint.com
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This information is provided by RNS
The company news service from the London Stock Exchange
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