new acquisition to be profit positive

The Environmental Group Limited (EGL) is pleased to announce that it has entered into a heads of agreement to acquire environmental services company, Total Air Pollution Control Pty Ltd (TAPC). The acquisition is expected to be completed by March 2007.
TAPC are sole Australian and New Zealand distributors for BHA Inc, a division of GE Energy, the world's largest supplier of parts and services for air pollution and
emissions control including baghouse1, electrostatic precipitators, and gas conditioning equipment.
The acquisition will add approximately $2 million in additional revenue this financial year and is expected to provide up to $1.3 million of additional profits in the year to June 2008. The business will become an immediate and substantial contributor to revenues and profits.