Control, automation and image-processing systems manufacturer Harland Simon Group Plc has just acquired Cortina Ltd, a company supplying specialised control systems for the water and petrochemical industries. And the Milton Keynes, Buckinghamshire company says it will shortly be finalising its acquisition of Intec Corp, an image-processing systems company making automated inspection systems for continuous web manufacturing (CI No 1,798). Details of the acquisition are being withheld until completion of the deal. Harland sees Intec as a means of expanding its North American activities, and hopes that the company, which has operations in Connecticut and Brussels, will help strengthen its worldwide market position for industrial inspection and measurement systems. The group’s earlier acquisition of Crosfield Press Controls and Opposite Inc, which allied to Harland’s existing range of imaging systems and scanners, will complement Intec’s business, says chairman Roy Ashman. Harland Simon yesterday reported pre-tax profits for the first six months to September 30 up 16% at just under UKP3m on turnover that rose 15% to just under UKP34m. Ashman is pleased with the group’s performance, and notes that the results have been achieved despite the cut back on plant and equipment purchase by the major process industries in Europe and the US. The Contraves Drives division, acquired in August (CI No 1,736), is reported to be meeting group expectations. As part of a restructuring programme, redundancies have been declared in Germany, Switzerland and the UK. Harland’s financial and management systems have been installed throughout the Contraves operations, and the board expects a worthwhile contribution from this acquisition during the second half. The group says that its net exposure to Maxwell Communications Corp Plc and to Mirror Group Newspapers Plc at September 30 did not exceed UKP800,000; Harland has been advised that, because of the nature of Harland’s claim, the company doesn’t need to provide against that debt.
