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  • BY: Andrew Hore |
  • POSTED: 10/07/2007 |

Security products supplier Eruma is buying Illuminex, which develops emergency lighting systems. 

Illuminex’s lighting products use light emitting diodes (LEDs) which cuts the power consumption. The lighting can be managed remotely. The main customer base is public sector and commercial buildings. Eruma is issuing 5m shares to buy Illuminex and placing a further 10.8m shares at 7p each to raise £756,000. Eruma is effectively paying £350,000 for a product range that has cost £180,000 to develop. Eruma makes security blinds. It lost £878,000 on turnover of £548,000 in 2006. At that time it had net cash of £97,000. 

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