Smiths Group PLC
14 April 2004
News Release
London, 14 April 2004
For immediate release
Smiths Group buys US hazardous material detection specialist for $75m
Smiths Group is acquiring the business and assets of SensIR Technologies LLC, a
leading manufacturer of infrared-based analysers, for a total of $75 million
(£41m). The newly acquired business will add significantly to the range of
technologies and equipment of Smiths Detection, one of the company's four
operating divisions.
'The second acquisition for Smiths Detection this year is a further step in
building a technology-led business to serve the diverse detection market,'
commented Keith Butler-Wheelhouse, chief executive of Smiths Group. 'SensIR
brings new technology to us, strengthening our ability to support those in the
front line who make the world a safer place.'
SensIR supplies analysers for the identification of potentially hazardous
substances in solid and liquid form. Its products are principally used by
military forces and the emergency services, notably first responders, hazmat
(hazardous material) teams and fire services worldwide.
In the 12 months to March 2004, the turnover of the SensIR business being
acquired was $37 million (£21m). Smiths Group is satisfying the acquisition in
cash and it is expected to close during May, subject to regulatory approvals.
Smiths Group designs and manufactures safety critical systems and products, and
has market leading positions in aerospace systems, detection systems, medical
devices, mechanical seals, and interconnect products. For further information,
visit www.smiths-group.com
-ends-
Contact:
Smiths Group Smiths Detection
Bernard Carey Richard Bayliss
Tel: +44 (0)20 8457 8403 Tel: +44 (0)1923 658106
Investor Relations
Russell Plumley:
Tel: +44 (0)20 8457 8203
Notes to Editors
About SensIR Technologies LLC
The SensIR range of infrared spectroscopy products, established in laboratory
and industrial applications, has been successfully extended into homeland
defence markets through the development of rugged, portable products. The
company has made significant sales to the emergency services (first responders)
and military customers in the US, markets currently addressed by Smiths
Detection with products that detect gaseous chemicals, and biological agents.
SensIR's products detect substances in solid and liquid form. SensIR's most
recent product development, HazMatID, was successfully tested by the Department
of Defense, resulting in a $3.5 million contract.
Formed in 1995, from a business founded in 1979, SensIR is a privately owned US
company with 110 employees, the majority based at its principal facility in
Danbury, Connecticut.
Hazmat
First Responders are usually Hazmat (hazardous material) teams set up by fire
departments. There are several thousand of these teams across the USA, and
Smiths Detection is the leading supplier of detection equipment to this sector,
with existing products such as APD 2000 and the newly launched 'Bio-Seeq'.
http://www.smithsdetection.com/markets.asp?markets=Emergency+services
Second detection acquisition this year
The acquisition of SensIR follows the purchase in February of Cyrano Sciences
Inc, an 'early stage' technology company which has developed miniature sensors
to detect and identify chemical vapours. Cyrano's products complemented the
Smiths Detection range and are used in the defence sector and in counter
terrorism.
About Smiths Detection
Smiths Detection is one of four operating divisions of Smiths Group plc,
offering technologically advanced security solutions to detect and identify
explosives, chemical & biological agents, weapons and contraband. Employing
trace detection technology together with Smiths Heimann x-ray imaging, Smiths
Detection provides screening solutions for customers in civil and military
markets worldwide.
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.