Penman acquires Creation to create design and manufacturing capability of choice

Joint Press Announcement Wednesday, 6th April 2011 --[ASDWire]-- Two of the UK's best known independent, privately owned defence, security and related technology companies have come together to create a world-class centre of design and engineering capability, embracing a wide range of current and future land systems products. Penman, already established at the forefront of specialist and protected platform design and manufacture, has acquired the entire business of Creation UK, the Hampshire-based independent design, prototype development and vehicle engineering house. No commercial details of the deal are disclosed. Penman, based in Dumfries, has fulfilled a significant string of successful UK and international defence and security programmes including EOD and Specialist vehicles, armoured patrol vehicles, mine clearing systems, protected construction equipment and cash in transit conversions. Penman capability has grown in recent years to include complete vehicle system design and integration solutions, often involving complex communications and electronics installation. Penman also supports a broad range of UK military, diplomatic, police and blue-chip commercial clients, in addition to international projects in the Middle-East, Far-East and Africa. Creation came to prominence as the design firm behind a series of successful, imaginative military vehicle platforms, radical new concept ancillary equipment and innovative technology. Its unique approach to total vehicle architecture, latterly through its in-house Zephyr light protected platform programme and as the automotive design partner on the acclaimed Ranger MRAP vehicle for Universal Engineering, has earned it international recognition. Bryan Findlay, Managing Director of Penman says, "The acquisition of Creation achieves another step-change for our business - both in terms of the complementary skills and synergies it brings together - but also in terms of breadth of product range and engineering capability. It will also enable us to fast-track our development and growth plans in a number of world markets, where we are already building strategic partnerships and our technology transfer business". Tony Rodgers, Penman Finance and Commercial Director adds, "The melding together of Creation and Penman creates a business that offers unrivalled vehicle design skills, matched with first class manufacturing capabilities and an in-depth understanding of vehicle protection". Creation Founder and Managing Director, Bill Davis says, "Creation has always been a forward looking, practical and innovation-led design and engineering business. We have an extremely focused and highly motivated team, with experience and capability which puts us right at the forefront of current practice and technology. Given the scale and inherent costs associated with today's military programmes, we recognise that business evolution, consolidation, partnerships and alliances between specialist contractors and suppliers will continue to drive the future for the sector. We are now at the heart of that changing environment". Alan Stanley, Chairman of Creation adds, "Both companies and their advisers are to be congratulated on the successful outcome of these negotiations. Penman and Creation share a common business ethos - that of putting the customer first. This development creates an organisation that will provide the expanded customer base worldwide with all the very best aspects of British engineering - innovative design, top quality products and first rate service".

Source: Penman Engineering Ltd
Date: Apr 7, 2011