Smiths Group PLC
16 February 2005
News Release
London, 16 February 2005
Smiths strengthens detection activities with acquisition of Farran Technology
Smiths Group plc announced today that it is expanding the range of technologies
offered by its rapidly growing Detection division, with the acquisition of
Farran Technology Limited. Farran, based in the Republic of Ireland, is
developing millimetre wave technologies for the detection of hidden weapons and
explosives and for other applications.
Using the electromagnetic radiation naturally emitted by all objects, Farran is
applying its millimetre wave technology to create an image that pinpoints the
presence on a person of metallic, ceramic and other materials, including plastic
explosives. Farran's detection portal, which uses its established millimetre
wave technology, has been tested successfully in the laboratory and prototype
field trials are expected to begin within 12 months.
'Smiths Detection is a world-leading business in a growth market, and it is
important that we maintain the momentum by broadening the technology base,'
commented Keith Butler-Wheelhouse, chief executive of Smiths Group. 'The
technology which Farran brings to us will strengthen our ability to provide
advanced security solutions, particularly in the transportation sector.'
Stephen Phipson, group managing director of Smiths Detection added: 'There is an
urgent global requirement for equipment that screens people for explosives and
hidden objects. The Farran technology complements our x-ray and trace detection
equipment widely used for airport and building security, and ensures that we
stay at the forefront in the development of detection systems.'
Farran designs and produces its own millimetre-wave sensors which are vital to
future portal development. It also designs and manufactures high performance
microwave sub-systems components for broadband wireless and imaging
applications. It is one of very few companies outside the USA with high
frequency design capabilities in this field.
Smiths Detection plans to expand Farran's research and development activity to
support the continued growth of its microwave sub-systems operations.
Farran Technology is owned by its local founders, its management and two Irish
venture capital funds. Smiths is acquiring the business for an initial €19
million plus deferred performance-related consideration up to a maximum of €5
million. The acquisition is being satisfied in cash. Farran is based in Cork,
the Republic of Ireland, where it was founded in 1977 to supply microwave
components and sub-systems to laboratories.
Smiths Detection offers technologically advanced security solutions to detect
and identify explosives, chemical & biological agents, weapons and contraband.
Employing trace detection technology together with Smiths Heimann x-ray imaging,
Smiths Detection provides screening solutions for customers in civil and
military markets worldwide.
Smiths Group designs and manufactures safety critical systems and products and
has market-leading positions in aerospace systems, detection equipment, medical
devices, and mechanical seals and interconnect products.
For further information, visit www.smiths-group.com
-Ends-
Contacts
Media Caroline Harris +44 (0)20 8457 8403
Trade and technical media Richard Bayliss +44 (0)1923 658106
Investor Relations Russell Plumley +44 (0)20 8457 8203
This information is provided by RNS
The company news service from the London Stock Exchange
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