Ludowici to strengthen its position in Africa via the proposed acquisition ofMeshcape Industries, South AfricaBrisbane, 4th August 2011: Ludowici Limited (ASX:LDW) is pleased to announce that it has agreed to acquire Meshcape Industries (“Meshcape”) located in South Africa.

Meshcape is a major supplier to the mining sector, aggregate and industrial markets, manufacturing, importing and distributing predominantly screen consumables – including polyurethane, woven wire mesh, woven screens, wire conveyor belts, wedge wire and perforated material solutions.

Ludowici Managing Director, Patrick Largier, said the acquisition would strengthen the Company’s position in Africa, providing a platform of scale from which to grow in one of the world’s fastest growing resource regions.

Commenting on the strategic, cultural and operational alignment of the two businesses, Mr Largier said:

“We are excited about the opportunities that the acquisition provides for Ludowici and Meshcape. The broader African continent is experiencing rapid growth with a number of new resource projects being established. This acquisition will provide Ludowici with the scale to leverage this rapid resource project growth and support its major customers as they expand in Africa, with a locally sourced offering of both consumable and capital product.”

“Meshcape is a natural fit for Ludowici given the strong cultural and product alignment of the two organisations. Operating in both the mining and general industrial markets, Meshcape has an established branch and distribution network throughout the major centres of South Africa that is complemented by its focus on product innovation.”

“This acquisition further supports Ludowici’s aim of becoming a leading specialist supplier to the global mineral processing industry.”

Acquisition highlights

The proposed acquisition is consistent with Ludowici’s strategy to: