Smiths Group PLC
03 February 2006
Smiths Group announced today that it has acquired the business and assets of
Lorch Microwave LLC, adding microwave filter technology to its electronic
components and subsystems Interconnect business. Smiths Group has acquired the
business for $25 million from undisclosed private vendors, including $1 million
payable after 31 July 2007 contingent on certain conditions being met.
Commenting on the acquisition, Keith Butler-Wheelhouse, chief executive of
Smiths Group said: 'This is another step towards our goal of increasing the
range of technologies we can offer to our Interconnect customers. Lorch fits
the Smiths Group mould perfectly, combining strong technology, an excellent
customer base and high quality management and employees.'
Based in Maryland USA and with 155 employees, Lorch designs and manufactures
filter components and integrated assemblies used in various microwave
applications including communication and defence systems.
Microwave filters are an essential component in microwave systems and Lorch has
a large portfolio of designs across multiple filter technologies that will give
Interconnect a significant position in this growing market segment.
John Langston, Group managing director of Smiths Specialty Engineering said: 'I
am delighted that we have acquired Lorch, which complements Smiths' other
Interconnect businesses, particularly TRAK Microwave. Lorch will boost our
presence in the fast-growing military communications and electronic
countermeasures markets.'
The Interconnect part of Smiths Group's Specialty Engineering division is a
global supplier of components and subsystems for connecting, protecting and
controlling critical electronic and radio frequency systems for customers in the
wireless telecommunications, aerospace, defence, space and medical markets.
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.
Contacts
Media
Chris Fox +44 (0)20 8457 8403
Investor Relations
Russell Plumley +44 (0)20 8457 8203
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.