INTERVIEW: Halma Sees China Sales At 10% Of Revenue In 5 Yrs

22nd Jun 2010 08:30

By Jason Douglas Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Health and safety electronics manufacturer Halma PLC (HLMA.LN) Tuesday said it expects sales in China to account for about 10% of its annual revenue within five years. Halma, which makes sensors, fire alarms and components for medical devices, said revenue in China rose 59% on the year during the fiscal year to the beginning of April to GBP18 million. Demand for Halma's products in China is being driven by the country's economic growth, the expansion of its healthcare system and its investment in infrastructure, Chief Executive Andrew Williams told Dow Jones Newswires. China intends to build some 16,000 miles of high-speed railway during the next 10 years and Halma's sensors are being used on the trains' doors. Sales of Halma's light-measuring systems to China's light-emitting diode manufacturers are booming, Williams said. Halma intends to invest about GBP1 million or GBP2 million in the country this year and plans to open three new regional sales offices outside its existing hubs in Shanghai and Beijing, Williams said. Williams added Halma is accelerating its hunt for acquisitions after making just one in the fiscal year just passed. The company has earmarked GBP100 million for potential deals, he said. Opportunities in healthcare and the U.S. are promising, he added. -By Jason Douglas, Dow Jones Newswires; 44-20-7842-9272; [email protected] (END) Dow Jones Newswires June 22, 2010 03:30 ET (07:30 GMT)