Acquisition

RNS Number : 9801X

Smiths Group PLC

01 July 2008

 

News Release

London, 1 July 2008

For immediate release

SMITHS BUYS AUSTRALIAN ELECTRONICS FIRM 

SMITHS Group, the global technology company, today announces the acquisition of Triasx Pty Ltd ('Triasx'), a Brisbane-based wireless communications components manufacturer, from private owners for an undisclosed cash sum.

Triasx expands Smiths Interconnect's microwave business adding the design and development of complex radio frequency filter products for the wireless communications market, including the recent development of portable testing devices used to locate interference affecting mobile phone base stations.

For the 12 months ended 30 June 2008, Triasx posted estimated sales of £12.5 million. 

Ralph Phillips, Acting President Smiths Interconnect, said: 'Triasx has in-depth knowledge of the telecommunications radio frequency market and an excellent R&D capability. Its strong filter capabilities complement our existing products, particularly those from Allrizon, our recent China-based acquisition.  In addition, the Triasx interference testing devices fit well with our existing Summitek business and together they will offer an unparalleled range of interference testing solutions.

'With manufacturing in Australia and China, the acquisition is part of Smiths Interconnect's strategy of expanding its global footprint. The Triasx range of products will be extensively marketed across Smiths Interconnect's existing global sales network.'

Triasx has a total of approximately 160 employees located in Brisbane, Australia and Suzhou, China. 

From 1 August 2008 the Smiths Specialty Engineering division, of which Smiths Interconnect is a part, ceases to exist and Smiths Interconnect becomes a division of Smiths Group in its own right.

Investor Relations                 Media Relations

Peter Durman                         Chris Fox 

[phone]             [phone]

Smiths Interconnect 
Smiths Interconnect designs and manufacturers specialised electronic and radio frequency products that connect, protect and control critical systems for the wireless telecommunications, aerospace, defence, space and medical markets. For further information visit www.smithsinterconnect.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

 

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