Smiths Group PLC
19 March 2008
Smiths acquisition adds new dimension to John Crane
Smiths Group, the global technology company, today announces the acquisition of
Indufil BV, a Dutch-based specialist in filters for the petrochemical and
process industries. The cost of the acquisition, which has not been disclosed,
is to be satisfied in cash. Final agreement is subject to the usual Dutch
employee consultation and approval procedures and completion is subject to
regulatory approvals.
Indufil designs and builds specialist filtration systems. These are used for
rotating equipment in the petrochemical and power sectors. It also benefits
from a strong aftermarket for its products. Indufil will become part of Smiths
John Crane business. In the financial year to 31 December 2007, Indufil had
sales of £26 million.
Paul Cox, Group Managing Director of Smiths Specialty Engineering, said: 'This
is a great example of our growth strategy of expanding John Crane's technology
footprint. Last October we acquired Sartorius which added rotating bearings,
now Indufil adds filtration systems to our growing portfolio.'
He added: 'Indufil competes in a market worth in excess of £300 million. It
sells a broad range of filtration systems, filter elements and associated
products to customers who already use John Crane's technology and services for
their equipment and facilities. With growth driven by the expansion of the
turbine power generation sector and rising petrochemical consumption, there is
great scope to increase the sale of Indufil products using the global John Crane
network.'
Employing some 95 people, Indufil manufactures in Duiven and Ede, The
Netherlands.
ENDS
Investor Relations Media
Peter Durman Chris Fox
+44 (0)20 8457 8203 +44 (0)20 8457 8403
About John Crane
John Crane, a Smiths Group business, designs and manufactures seals and
associated products and provides services 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
About 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
This information is provided by RNS
The company news service from the London Stock Exchange ZZ
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