Renishaw Invests 6.1M Pounds in Delcam
 BIRMINGHAM,
UK, April 25, 2007 - At an EGM held on 23rd April, Delcam shareholders voted
to accept an investment of around £6.1 million from leading metrology
company, Renishaw. The investment is through a subscription for 1,524,052
new Ordinary Shares at £4.00 per share, which represents 20% of Delcam’s
enlarged capital.
The net proceeds will be used to fund the expansion of Delcam’s business
and for further investment in the development, sales and support of the
company’s range of CADCAM software. Following the investment, Renishaw has
been invited to nominate a director to the Board of Delcam.
Renishaw and Delcam have worked together for many years, share common
interests in the fields of engineering and metrology, and worldwide have
many common customers. It is believed that closer cooperation will enhance
the sales of both companies. This will be achieved by initiatives such as
the agreement recently entered into by Delcam for the development of
software to support the application of Renishaw’s new probes.
Speaking about the investment, Ben Taylor, Renishaw’s Assistant Chief
Executive said, “The Directors of Renishaw are very pleased to further our
long-standing relationship with Delcam in this manner and are confident that
the new relationship will be extremely fruitful for the progress and
continuing development of both companies.”
He continued, “We see particular benefit in the development of software
that will enhance our new developments in the fields of dental, medical and
precision metrology.”
Chairman of Delcam plc, Tom Kinsey, added, “The directors of both
companies believe that closer cooperation will enhance our respective sales
and will provide opportunities for developing software to support a range of
exciting new Renishaw products.”
About Delcam plc
Delcam plc is one of the world's leading suppliers of advanced CADCAM
software product development solutions for the manufacturing industry and is
listed on the London Stock Exchange’s AIM market.
The company has grown steadily since being founded formally in 1977,
after initial development work at Cambridge University, UK. It is now the
largest developer of product design and manufacturing software in the UK,
with subsidiaries in North America, Europe and Asia. Delcam's software is
used by more than 18,000 organizations in over 80 countries.
Delcam’s sales for the year ending 31 December 2006 rose by 14% to £26.7m
and its profit before tax increased by 9.6% to £2.56m.
More information is available at
www.delcam.com.
About Renishaw
Renishaw plc is one of the world's leading metrology companies, with more
than 30 years experience of supplying innovative products designed to
increase productivity and improve product quality in competitive
manufacturing environments.
The company has been honored with twelve Queen’s Awards to date,
recognizing Technological Achievement, Export Achievement and, again this
year, for Enterprise in the Innovations category. In February 2007, the
company was honored with the ‘Innovation in industry’ award at the
prestigious Best of British Industry Awards.
In the year to 30 June 2006, Renishaw generated turnover of £175.8
million and profit before tax of £38.1 million. The Renishaw Group currently
has 51 locations in 31 countries, with over 2,100 employees.
More information is available at
www.renishaw.com.
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