US Acquisition Expands Interconnect Interests

Smiths Industries PLC
2 May 2000



US acquisition expands Smiths Industries interconnect interests

Smiths Industries is expanding its interconnect activities with its fourth
acquisition in this sector, this year.  It has purchased Florida RF Labs,
Inc., a leading US supplier of microwave resistor products and cable
assemblies for the telecoms and defence industries, for $25.8 million (£16.1
million) in cash which includes the freehold of land and buildings occupied by
the company. 

Commenting on the latest acquisition, chief executive Keith Butler-Wheelhouse
said: 'We are establishing a core expertise in a number of interconnect
products, especially those which improve the reliability of base stations, the
complex free-standing transmitters at the heart of mobile networks. It is a
market growing at more than 15% a year, offering us exciting prospects, and
this deal further increases our opportunities to supply an integrated package
of equipment.'

Florida RF Labs is the latest acquisition in a continuous investment programme
aimed at expanding the company's international activities in interconnect
products. This year, it has already purchased Sabritec, EMC Technology and LEA
International, all based in the USA.   

Founded in 1983, Florida RF Labs is privately owned and employs 160 people in
Stuart, Florida. For the year to 30 April 2000, its sales are expected to
reach 
$15 million, with operating profits of more than $3 million. Completion of the
acquisition was simultaneous with the signing of the purchase agreement. 

The principal interests of Florida RF Labs are microwave resistive devices to
protect sensitive electronic circuits, and coaxial cable & connector
assemblies.  It has also developed an industry-leading technology for the
manufacture of thin film circuits.  These complement existing products made by
Smiths Industries for the telecoms market, which  include lightning
protectors, surge suppressers, power stabilisers and microwave cables. 

In addition to specialised interconnect products,  Smiths Industries is a
world leader in advanced electronic and electrical systems for the aerospace
industry; single-use devices and critical care equipment for the healthcare
sector; and air movement systems.



Press enquiries to:
Richard Bayliss
Tel: [phone]