Spirent PLC
19 September 2005
Spirent PLC
NETWORK PRODUCTS DIVISION
London, UK - 19 September 2005: Spirent plc (LSE: SPT; NYSE: SPM), a leading
communications technology company, today announces that it has started a formal
process that is expected to result in the sale of its Network Products division,
HellermannTyton. This decision is consistent with the Group's stated strategy of
focusing on growing its Communications group whilst maximising the value of its
other businesses.
HellermannTyton provides innovative solutions for fastening, identifying,
insulating, organising, routing and connectivity that add value to electrical
and communication networks in a wide range of applications. It continues to
demonstrate strong revenue growth, robust margins and attractive cash flows.
Further announcements will be made as appropriate.
Gleacher Shacklock LLP and JPMorgan Cazenove Limited are acting as Financial
Advisers to the Company in relation to the disposal.
Anders Gustafsson, Chief Executive, commented:
'HellermannTyton is an excellent business that is performing well. Given our
strategy to concentrate our resources on the development of the Communications
group, we believe that this is a good time to realise value from our successful
investment in HellermannTyton and strengthen our overall financial position.'
- ends -
Enquiries
Anders Gustafsson, Chief
Executive Spirent plc +44 (0)1293 767676
Eric Hutchinson, Finance
Director
Tim Shacklock Gleacher Shacklock +44 (0) 7484 1150
LLP
Edward Cumming-Bruce
Julian Cazalet JPMorgan Cazenove Ltd +44 (0) 7588 2828
Andrew Hodgkin
Reg Hoare Smithfield +44 (0)20 7360 4900
Katie Hunt
About Spirent
Spirent is a leading communications technology company focused on delivering
innovative systems and services to meet the needs of customers worldwide. We are
a global provider of performance analysis and service assurance solutions that
enable the development and deployment of next-generation networking technologies
such as broadband services, Internet telephony, 3G wireless and web applications
and security testing. Our Network Products business is a developer and
manufacturer of innovative solutions for fastening, identification, protection
and connectivity in electrical and communications networks marketed under the
global brand HellermannTyton. The Systems group comprises PG Drives Technology
which develops power control systems for specialist electrical vehicles in the
mobility and industrial markets. Further information about Spirent plc can be
found at www.spirent.com
Spirent Ordinary shares are traded on the London Stock Exchange (ticker: SPT)
and on the New York Stock Exchange (ticker: SPM; CUSIP number: 84856M209) in the
form of American Depositary Shares (ADS), represented by American Depositary
Receipts, with one ADS representing four Ordinary shares.
Spirent and the Spirent logo are trademarks or registered trademarks of Spirent
plc. All other trademarks or registered trademarks mentioned herein are held by
their respective companies. All rights reserved.
This press release may contain forward-looking statements that are based on
current expectations or beliefs, as well as assumptions about future events. By
their nature, forward-looking statements are inherently predictive, speculative
and involve risk and uncertainty because they relate to events and depend on
circumstances that will occur in the future. You should not place undue reliance
on these forward-looking statements, which are not a guarantee of future
performance and are subject to factors that could cause our actual results to
differ materially from those expressed or implied by these statements. These
risks include the risks described from time to time in Spirent plc's Securities
and Exchange Commission periodic reports and filings. The Company undertakes no
obligation to update any forward-looking statements contained in this press
release, whether as a result of new information, future events or otherwise.
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