Smiths Group PLC
02 August 2005
News Release
London, 02 August 2005
For immediate release
Smiths announces three acquisitions
Smiths Group plc has announced three acquisitions with a total consideration of
£16 million in cash. These are in the Medical and the Specialty Engineering
divisions and they are in line with company's strategy for growth.
Smiths Medical has continued the consolidation of its global sales channels with
the acquisition of its distributor, Sevit, in Italy, Europe's fourth largest
medical device market. The consideration was £3.5 million. The acquisition is
part of the company's strategy to take more direct control of its sales channels
in important markets. It also reflects the benefits of the recent acquisition of
Medex, as Sevit will be combined with the existing Medex manufacturing and sales
operation in Italy and will run by the enlarged business, Smiths Medical Italia.
Smiths Group has continued to develop the Flexible Technologies business of its
Specialty Engineering division by acquiring two U.S. manufacturers to complement
its product range and customer base. It has purchased Hi-Tech Hose Inc., based
in Georgetown, Massachusetts for a consideration of £9 million and Farnam Custom
Products of North Carolina for £3.5 million.
- Ends -
Contacts
Media Chris Fox +44 (0)20 8457 8403
Investors Russell Plumley +44 (0)20 8457 8302
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 more information, visit
www.smiths-group.com
Smiths Medical is a leading supplier of devices used during critical and
intensive care, surgery, post-operative care during recovery, and in a series of
high-end home infusion therapies.
Flexible Technologies, part of the Specialty Engineering division of Smiths
Group plc, offers a wide range of flexible hose and ducting for commercial and
consumer air moving products and for the conveying of gas, liquid and airborne
solids in the industrial processes. It is a leading supplier of vacuum cleaner
hose. Ducting and heating elements are also offered for the HVAC and domestic
appliance markets.
This information is provided by RNS
The company news service from the London Stock Exchange
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