Twin Disc acquires marine industry manufacturer

RACINE, Wis. – Twin Disc, Inc. (NASDAQ: TWIN) has acquired the BCS Group (comprised of BCS, S.r.l., BCS Service, S.r.l., Boat Equipment Limited and Vetus Italia S.r.l.) located in Limite sull’ Arno, Italy, a manufacturer and distributor of products and accessories for the marine industry, it reported in a statement today.

With annual sales of approximately EUR 22,753,000 ($29,165,000) the acquisition is expected to be accretive to Twin Disc’s earnings beginning in fiscal 2007. Further, earnings of the BCS Group are expected to exceed Twin Disc’s cost of capital in fiscal 2007. Twin Disc paid EUR 17,715,000 ($22,707,000) cash for the BCS Group.

Founded in 1956 by the Bini, Cecchi and Salvadori families, the BCS Group has grown to be a major supplier of hydraulic power steering systems, bow thrusters, hydraulic flaps, propeller shafts and related components to the Italian yacht building industry. In 1977, the Group became the distributor for Vetus den Ouden NV of Shiedam, Netherlands. Under Twin Disc ownership, Vetus Italia S.r.l. will continue to represent the Dutch company in the Italian market.

“BCS and Vetus Italia are important suppliers to the Italian marine industry – the second largest producer of pleasure boats under 24 meters in length and the largest builder of mega-yachts in the world,” said Chairman and Chief Executive Officer Michael E. Batten. “With this acquisition, Twin Disc now offers a complete line of transmission, propulsion and boat management systems to the marine industry.”

Twin Disc designs, manufactures and sells heavy-duty off-highway power transmission equipment. Products offered include: marine transmissions, surface drives and propellers; power-shift transmissions; power take-offs and reduction gears; industrial clutches; and control systems.

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