Amiad Filtration Systems Ltd: Intention to Float.LONDON -- Amiad Filtration Systems Ltd ("Amiad" or "the Company") Intention to Float Amiad, a producer and global supplier of water filters and filtration systems for the industrial & municipal and the irrigation irrigation, in agriculture, artificial watering of the land. Although used chiefly in regions with annual rainfall of less than 20 in. (51 cm), it is also used in wetter areas to grow certain crops, e.g., rice. markets today announces its intention to float on AIM. Amiad specialises in the development of automatic self cleaning filtration systems that require low maintenance and can be adapted to provide bespoke be·spoke v. Past tense and a past participle of bespeak. adj. 1. Custom-made. Said especially of clothes. 2. Making or selling custom-made clothes: a bespoke tailor. solutions to a wide range of applications, including in the steel, power, oil and gas, pulp and paper, and irrigation industries. The Directors believe Amiad is well placed to benefit from the rising demand for cleaner water due to greater water quality regulation, ever growing population and continued industrialisation Noun 1. industrialisation - the development of industry on an extensive scale industrial enterprise, industrialization manufacture, industry - the organized action of making of goods and services for sale; "American industry is making increased use of . The rising demand has caused the water industry to evolve and grow rapidly. Traditional media and cartridge filtration are being replaced by automatic self-cleaning screen filters. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Global Industry Analysis, the $50bn worldwide market for water treatment equipment and supplies is currently growing by approximately 7%, with average growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. at approximately 9% for developing economies and 6% for G8 economies. Amiad currently sells its products worldwide to over 60 countries across the Americas, Africa, Europe, Asia and Australasia. It sells principally through distributors to a wide range of established customers including Air Liquide
In the year ended 31 December 2004, Amiad generated revenues of approximately $37 million and a pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma profit after tax of approximately $3 million (excluding one time expenses, amortisation of other assets other assets Assets of relatively small value. For financial reporting purposes, firms frequently combine small assets into a single category rather than listing each item separately. and certain payments to Shareholders which terminate upon placing). In keeping with its global presence, over 85% of the revenues are generated outside Israel. Also, the Company has historically paid a dividend and the Directors expect that the Company will be able to continue to do so. The Directors believe that Admission to AIM will enable them to develop sales and marketing capabilities with a focus on high growth territories, such as China, India, Mexico, Africa and Eastern Europe. It will also enable the Company to target new high growth markets driven by factors such as regulation (such as ballast water, pre-filtration and oil & gas sectors). The Directors also intend to use some of the proceeds to strengthen Amiad's position in complete water treatment systems through selective acquisition or establishment of capabilities in this area. Clean water is a scarce resource that is facing increasing demand due primarily to growth in the global population, which is estimated to increase from 6.5 billion in 2004 to 8 billion by 2025. While the world population has doubled since 1950, water consumption has increased six-fold over that period. Currently, approximately 40 per cent of the global population, across 80 countries, suffer from water shortages and 1.1 billion people do not have access to safe water. Asia alone accounts for two-thirds of the people worldwide whose drinking water drinking water supply of water available to animals for drinking supplied via nipples, in troughs, dams, ponds and larger natural water sources; an insufficient supply leads to dehydration; it can be the source of infection, e.g. leptospirosis, salmonellosis, or of poisoning, e.g. comes from unsafe sources like rivers, ponds and lakes. The Company's Nominated Adviser and broker is Panmure Gordon & Co. |
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