Smiths Group PLC
09 November 2007
News Release
London, 9 November 2007
For immediate release
Smiths Group sells Marine Systems business
Smiths Group plc, the global technology company, announced today that it has
sold its Marine Systems business to KH Finance Limited, a company owned by ECI
Partners LLP, for £52 million, comprising £48 million - which has been satisfied
in cash - and a deferred payment of up to £4 million in cash depending on
certain conditions being satisfied.
Marine Systems, which was a part of Smiths Specialty Engineering, trades as
Kelvin Hughes and ChartCo and employs some 330 people, the majority located in
Essex, UK. In the period to 31 July 2007 it had sales of £57.7 million.
ENDS
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
Investor Relations Media
Steve Warren Chris Fox
+44 (0)20 8457 8203 +44 (0)20 8457 8403
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