Acquisition

Spirax-Sarco Engineering PLC
31 October 2000



             ACQUISITION OF M&M INTERNATIONAL SRL
                               
                               

Spirax-Sarco Engineering plc announced today that it has
acquired the entire share capital of M&M International Srl, a
privately owned company based in Italy for a total
consideration of Lire 22.5 billion (£6.8 million).  The
company manufactures and sells solenoid valves and a range of
piston actuated valves, mainly in Italy and through its own
sales subsidiaries based in Germany, Spain, UK and USA.

The consideration of Lire 22.5 billion comprises the
assumption of net debt of Lire 8.0 billion and a payment of
Lire 14.5 billion which is being satisfied from borrowings.
The consideration is subject to a downward only adjustment
dependent upon the level of net assets at completion and
adjustment in relation to net cash at completion subject to a
maximum aggregate consideration of Lire 30 billion.  The
acquisition is forecast to provide an immediate benefit to
Group earnings.





Enquiries:

Marcus Steel        -  Chief Executive
David Meredith      -  Director-Finance
Spirax Sarco Engineering                 Tel: [phone]