Serco buys German engineering defence specialist

Serco Group, said it now has a solid base for expansion within Germany, after buying Elekluft - a subsidiary of Dasa, the aerospace division of DaimlerChrysler and a provider of outsourced business services.

Elekluft was formed in 1961 to provide installation of, and support to, German air defence radar systems. Today, the company provides engineering services to German military and aerospace customers as well as FM services - from administrative functions to technical services to commercial organisations.
Elekluft's projected turnover to the year ending December 1999 is DM150 million - about £50.9 million. Profit before tax will be £1.4 million and the value of the net liabilities being acquired is £8.8 million.

The deal is subject to approval by the German authorities but is expected to be approved in four to six weeks.