IHS acquiring joint venture interest in Lloyd's
Register-Fairplay
IHS acquires 50 percent ownership of maritime
information leader
IHS Inc. (NYSE:IHS), a leading global source of critical
information and insight, today announced the acquisition of Prime
Publications Limited, which owns 50 percent of Lloyd's
Register-Fairplay Limited. The acquisition makes IHS a 50-50 joint
venture partner in Lloyd's Register-Fairplay, a leading source of
global maritime information. Lloyd's Register, a separate entity,
continues to own the remaining 50 percent share.
IHS acquired 100 percent of the stock of Prime Publications for
approximately £38 million (British pounds), or roughly $75.5
million U.S. The transaction included approximately £10.7 million
(British pounds) in non-interest bearing notes to the sellers of
Prime Publications with the balance in cash.
Lloyd's Register-Fairplay is the pre-eminent brand name in the
maritime information industry and the only organization that
provides comprehensive details of the current world merchant fleet
(tankers, cargo, carrier and passenger ships) and a complete range
of products and services to assist the world's maritime community.
Lloyd's Register-Fairplay uniquely meets international demand for
information requirements on ships, companies, ports, real-time
vessel movements and related news, and also provides research and
consultancy services critical to the shipping industry.
Maritime issues are of enormous priority to corporations,
governments and consumers, as shipping serves more than 90 percent
of global trade, according to the United Nations. Lloyd's
Register-Fairplay exclusively manages and issues on behalf of the
International Maritime Organization, or IMO, the industry standard
ship and shipping company numbering system, placing it at the
center of the maritime industry. The IMO is a specialized agency of
the UN.
"The maritime information market is a dynamic and growing
segment of the world economy, and it is of significant interest to
IHS customers in our four business domains: energy, product
lifecycle, security and environment," said Jerre Stead, IHS
chairman and chief executive officer. "As just one example,
real-time tracking and monitoring of energy shipments -- combined
with monitoring of vessel status, port conditions and security
threats -- combine all the security, energy, environment and
product lifecycle domains that are so important to our customers.
It's a critical information combination that they can't get
anywhere else.
"Lloyd's Register-Fairplay also is a natural complement to our
Jane's Information Group business, which is a powerful brand in the
security arena," Stead continued. "Its current products and
services are relevant to every major current customer group of
Jane's, including those in the national security, aerospace and
defense, transport, public safety and law enforcement communities.
Lloyd's Register-Fairplay's focus on the commercial maritime
industry also naturally complements Jane's position as the leading
global provider of open source information and insight on the
world's navies and marine corps, as well as its corresponding
strengths in land and air defense."
With extensive databases on newbuildings (ships under
construction or on order), ship characteristics, owners, vessel
movement, casualty, companies, ports and maritime news, as well as
research forecasting and maritime consultancy services, Lloyd's
Register-Fairplay products and services are unique to the industry.
In addition to this, Lloyd's Register-Fairplay publishes a number
of leading magazine titles covering international shipping, safety,
security and port-related activities. Lloyd's Register-Fairplay
also organizes maritime conferences, exhibitions and seminars.
Lloyd's Register Chief Executive Richard Sadler said: "Over the
years we have enjoyed an excellent joint venture relationship with
Prime Publications and have seen significant growth in Lloyd's
Register-Fairplay's core products and diversification into new
services for the maritime sector. The acquisition by IHS marks a
new chapter for Lloyd's Register-Fairplay and we are excited to be
partnering with a company that has such a strong strategic fit with
our own activities."
Lloyd's Register traces its origins to the coffee house of
Edward Lloyd, which, in the latter part of the 17th century, had
become a meeting place for those with a professional interest in
ships and the cargoes they carried. Today, it keeps the world's
shipping industry informed through traditional directories as well
as sophisticated web-based services. Prime Publications dates its
origins from 1883 and has always been synonymous with the shipping
magazine Fairplay International. Lloyd's Register-Fairplay
joint-venture company was formed in July 2001 through the merger of
Lloyd's Register's Maritime Information Publishing Group and Prime
Publications Limited.
Perissos Developments Ltd., led the negotiations of the
transaction for the shareholders of Prime Publications.
A conference call with IHS Chairman and CEO Jerre Stead to
discuss the acquisition will be conducted today, March 3, at 11:00
a.m. MST/ 1:00 p.m. EST/ 6:00 p.m. GMT. Media and investors can
participate on the call by visiting the IHS website at
http://www.ihs.com/Investor-Relations/ir-calendar.htm
and logging on at least 15 minutes prior to the start of the call,
or by dialing in the U.S. +1 800 591-6923 or International callers
+1 617 614-4907 and entering the passcode 35212628.
A replay of this webcast will be available approximately two
hours after the conclusion of the live event today. To access the
webcast recording, visit
http://www.ihs.com/Investor-Relations/ir-calendar.htm.
Notes to editors
About IHS (www.ihs.com)
IHS (NYSE: IHS) is a leading global source of critical information
and insight for customers in a broad range of industries. Our
customer product and service solutions span four major areas of
information: energy, product lifecycle management, environmental
and security. By focusing on our customers first, we deliver data
and expertise that enable innovative and successful
decision-making. Customers range from governments and multinational
companies to smaller companies and technical professionals in more
than 180 countries. IHS has been in business since 1959 and employs
more than 3,000 people in 35 locations around the world.
IHS is a registered trademark of IHS Inc. All other company and
product names may be trademarks of their respective owners.
Copyright © 2008 IHS Inc. All rights reserved.
About Lloyd's Register-Fairplay
(http://www.lrfairplay.com)
Lloyd's Register-Fairplay is a joint venture company of Lloyd's
Register Group and IHS Inc. Lloyd's Register-Fairplay is the only
organization to provide comprehensive details of the current world
merchant fleet of 100 GT and above, and a complete range of
products and services to assist the world's maritime community.
With offices in the United Kingdom, Sweden, United States and
Singapore, Lloyd's Register-Fairplay can satisfy international
demand for information requirements on ships, companies, ports,
movements and news related services, as well as provide research
and consultancy services. Lloyd's Register-Fairplay has more than
180 employees and is able to draw on the resources of the Lloyd's
Register Group and its network of over 200 Group offices
worldwide.
IHS FORWARD-LOOKING STATEMENTS: This release may contain
forward-looking statements as defined in the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are
statements that are not historical facts. Such statements may
include financial projections and estimates and their underlying
assumptions, statements regarding plans, objectives and
expectations with respect to future operations, products, and
services, and statements regarding future performance.
Forward-looking statements are generally identified by the words
"expect," "anticipate," "believe," "intend," "estimate," "plan" and
similar expressions. Although IHS and its management believe that
the expectations reflected in such forward-looking statements are
reasonable, investors are cautioned that forward-looking
information and statements are subject to various risks and
uncertainties--many of which are difficult to predict and generally
beyond the control of IHS--that could cause actual results and
developments to differ materially from those expressed in, or
implied or projected by, the forward-looking information and
statements. These risks and uncertainties include those discussed
or identified by IHS from time to time in its public filings. Other
than as required by applicable law, IHS does not undertake any
obligation to update or revise any forward-looking information or
statements. Please consult our public filings at
www.sec.gov or
www.ihs.com.
Mark Stokes
Group Communications Director
Corporate Communications
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