Smiths Group PLC
15 October 2007
News Release
London, 15 October 2007
For immediate release
Smiths Group acquisition extends capabilities in energy sector
SMITHS Group, the global technology business, today announces the acquisition of
Sartorius Bearing Technology (SBT), part of Sartorius AG.
SBT, a leading provider of high performance rotating equipment for the oil and
gas industry based in Gottingen, Germany, employs around 100 people and is
recognised as a leader in the European speciality engineered bearings sector.
The company has a varied product portfolio that includes tilting pad bearings
for high-speed rotor applications, standard thrust and journal multilobe
bearings, and combined bearings for restricted assembly and mounting
applications. The total cost of the acquisition is €20 million, which will be
satisfied in cash. The acquisition is subject to regulatory approvals.
SBT will extend Smiths Group's range of advanced technology products aimed at
the turbomachinery industry and will report through John Crane, which is part of
Smiths Specialty Engineering division. John Crane designs and manufactures
mechanical seals and associated products for the oil & gas, chemical,
pharmaceutical, pulp & paper and mining sectors.
Mike Mansell, Managing Director of John Crane EAA, said: 'John Crane has an
unrivalled global sales and service network. The acquisition of SBT is an
important step in our strategy to leverage this network for a wider range of
solutions used in high-performance rotating equipment. Together, John Crane and
SBT aim to build a global position in bearing technology, one that will
complement John Crane's existing mechanical sealing solutions, couplings and
associated technologies and further help our customers achieve their demanding
performance goals.
Keith Butler-Wheelhouse, Chief Executive of Smiths Group, said: 'The acquisition
of SBT marks an important development in Smiths Group's expansion within the
energy sector. SBT's bearing technology will enhance John Crane's peerless
offering of high performance seals and associated products and services, and
will help to maintain our position as a leading provider of technology and
services for the global oil and gas industry.'
ENDS
John Crane
John Crane, a Smiths Group business, designs and manufactures seals and
associated products mainly for the oil & gas, chemical, pharmaceutical, pulp &
paper and mining sectors. Since being established over 80 years ago John Crane
has become a leader in its field. John Crane's products are a globally
recognised and trusted brand by the oil and gas industry. The John Crane
business has 20 manufacturing sites around the world and more than 6,000
employees. For further information visit www.johncrane.com
Smiths Group
Smiths is a global technology company listed on the London Stock Exchange. A
world leader in the practical application of advanced technologies, Smiths Group
delivers products and services for the threat & contraband detection, medical
devices, energy and communications markets worldwide. Our products and services
make the world safer, healthier and more productive. Smiths Group employs more
than 20,000 people in over 50 countries. For more information visit
www.smiths.com
Investor Relations
Media
Steve Warren Chris Fox
+44 (0)20 8457 8203 +44 (0)20 8457 8403
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