Smiths Group PLC
02 December 2004
News Release
London, 2 December 2004
For immediate release
Smiths Strengthens its Presence in China with the Acquisition of a Leading
Chinese Mechanical Seals Business
Smiths Group today announced that its Specialty Engineering business, John
Crane, the international leader in modern sealing technology, has acquired
Chinese-based Tianjin Timing Seals Co Ltd and associated technology for a
consideration of £2.5m in cash. The company, which will be known as John Crane
Timing, is a leading provider of gas sealing products for industrial
turbo-machinery applications in China.
This acquisition underscores Smiths' strategy to invest in China. In April,
Smiths Aerospace opened a facility in Suzhou, Jiang Su province, to manufacture
aircraft engine and airframe components. Other Smiths activities in China
include Polyphaser, Shanghai, which is part of Smiths Interconnect, and an
existing John Crane joint venture in Tianjin.
John Langston, Group managing director, Smiths' Specialty Engineering division,
said 'This acquisition combines John Crane Timing's proprietary technology and
capability with the resources of the John Crane organisation to offer the very
latest sealing solutions for major industries in China and internationally'.
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 -
Contacts
Media Caroline Harris +44 (0)20 8457 8306
Investor Relations Russell Plumley +44 (0)20 8457 8203
Notes to editors:
John Crane, part of the Specialty Engineering division of Smiths Group, is the
acknowledged technology leader and the world's largest manufacturer of
Mechanical Seals and associated products. With a workforce of over 6000 people
in 47 countries, it provides an unrivalled global presence combined with
personalised local service and support.
This information is provided by RNS
The company news service from the London Stock Exchange
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