Smiths completes acquisition of Morpho Detection

RNS Number : 8649B

Smiths Group PLC

07 April 2017

 

 

News Release

London, 7 April 2017

For immediate release

Smiths Group announces completion of acquisition of Morpho Detection

Following the clearance from US Department of Justice on March 31^st 2017 Smiths Group plc today confirms that it has completed the acquisition of Morpho Detection.

Consistent with the clearance from the European Commission, the DOJ approval is conditional on the post-completion divestment of Morpho Detection's explosive trace detection business.

ENDS

Contact details

Investor enquiries

Andrew Lappin, Smiths Group

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[phone]

[e-mail] 

Marion Le Bot, Smiths Group

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[phone]

[e-mail] 

Media enquiries

Andrew Lorenz, FTI Consulting

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[phone]

[e-mail]

Deborah Scott, FTI Consulting

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[phone]

[e-mail]

Smiths Group is a global technology company listed on the London Stock Exchange (SMIN) and operates a sponsored level one ADR programme (SMGZY). 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. Smiths Group employs more than 22,000 people in over 50 countries. For more information visit www.smiths.com.

Smiths Detection is a leading global designer and manufacturer of sensors that detect and identify explosives, weapons, chemical agents, biohazards, nuclear and radioactive material, narcotics and contraband. Its range of detection technologies, including X-ray, trace detection and infra-red spectroscopy helps customers in the global transportation, ports and borders, critical infrastructure, military and emergency responder markets.  Smiths Detection generated annual sales of £526 million for the year to 31 July 2016 and has over 2,000 employees worldwide.  Smiths Detection's manufacturing centres are located in Germany, France, Malaysia, USA and the UK, and its products are sold in over 200 countries.

Disclaimer

This announcement contains certain statements that are forward-looking statements. They appear in a number of places throughout this announcement and include statements regarding our intentions, beliefs or current expectations and those of our officers, directors and employees concerning, amongst other things, our results of operations, financial condition, liquidity, prospects, growth, strategies and the business we operate. By their nature, these statements involve uncertainty since future events and circumstances can cause results and developments to differ materially from those anticipated. The forward-looking statements reflect knowledge and information available at the date of preparation of this announcement and, unless otherwise required by applicable law, Smiths undertakes no obligation to update or revise these forward-looking statements. Nothing in this document should be construed as a profit forecast.

No statement in this announcement is intended to be a profit forecast and no statement in this announcement should be interpreted to mean that earnings per Smiths ordinary share for the current or future financial years would necessarily match or exceed the historical published earnings per Smiths ordinary share.  Prices and values of, and income from, shares may go down as well as up and an investor may not get back the amount invested.  It should be noted that past performance is no guide to future performance.  Persons needing advice should consult an independent financial adviser. 

 

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