812 - 30 September 2002
SPIRENT PLC
SALE OF MONITOR LABS INCORPORATED
Spirent plc (LSE: SPT; NYSE: SPM), a leading international network technology
company, announces that it has sold Monitor Labs Incorporated (MLI) from within
its Systems group to a subsidiary of Teledyne Technologies Incorporated (NYSE:
TDY) for a cash consideration of $24.0 million (approximately £15.4 million).
MLI, with locations in Colorado and Pennsylvania, USA, is a leading supplier of
environmental monitoring instrumentation and integrated systems. For the year
ended 31 December 2001 MLI had sales of $28.0 million. MLI has approximately
160 employees and will become part of the Teledyne Instruments group of
companies.
As at 31 December 2001 the book value of the business being sold was £1.6
million with associated reinstated goodwill of £32.6 million.
Nicholas Brookes, Chief Executive of Spirent, said:
'MLI has a strong position in its market and will benefit from ownership by a
company that can obtain strategic and synergistic benefits.'
- ends -
Enquiries
Nicholas Brookes, Chief Executive Spirent plc +44 (0)1293 767676
Eric Hutchinson, Finance Director
Investor Relations
Catherine Nash Spirent plc +44 (0)1293 767676
Media
Jon Coles/Rupert Young Brunswick (London) +44 (0)20 7404 5959
Lauren Teggelaar Brunswick (New York) +1 212 333 3810
About Spirent
Spirent plc is an international network technology company providing
state-of-the-art systems and solutions for a broad range of customers
worldwide. Our Communications group is a worldwide provider of integrated
performance analysis and service assurance systems for next-generation network
technologies. Spirent's solutions accelerate the development and deployment of
network equipment and services by emulating real-world conditions and assuring
end-to-end performance of large-scale networks. Our Network Products group
provides innovative solutions for fastening, identifying, insulating,
organising, routing and connectivity that add value to electrical and
communication networks in a wide range of applications. Our Systems group
offers integrated product solutions for the aerospace and power controls
markets. Further information about Spirent plc can be found at www.spirent.com
Spirent plc is listed on the London Stock Exchange (ticker: SPT) and on the New
York Stock Exchange (ticker: SPM; CUSIP number: 84856M209) with one American
Depositary Receipt representing four Ordinary shares.
Spirent and the Spirent logo are trademarks of Spirent plc. All other
trademarks or registered trademarks are held by their respective companies. All
rights reserved.
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whether as a result of new information, future events or otherwise.
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