19th Mar 2008 07:02
Smiths Group PLC19 March 2008 Smiths acquisition adds new dimension to John Crane Smiths Group, the global technology company, today announces the acquisition ofIndufil BV, a Dutch-based specialist in filters for the petrochemical andprocess industries. The cost of the acquisition, which has not been disclosed,is to be satisfied in cash. Final agreement is subject to the usual Dutchemployee consultation and approval procedures and completion is subject toregulatory approvals. Indufil designs and builds specialist filtration systems. These are used forrotating equipment in the petrochemical and power sectors. It also benefitsfrom a strong aftermarket for its products. Indufil will become part of SmithsJohn Crane business. In the financial year to 31 December 2007, Indufil hadsales of £26 million. Paul Cox, Group Managing Director of Smiths Specialty Engineering, said: "Thisis a great example of our growth strategy of expanding John Crane's technologyfootprint. Last October we acquired Sartorius which added rotating bearings,now Indufil adds filtration systems to our growing portfolio." He added: "Indufil competes in a market worth in excess of £300 million. Itsells a broad range of filtration systems, filter elements and associatedproducts to customers who already use John Crane's technology and services fortheir equipment and facilities. With growth driven by the expansion of theturbine power generation sector and rising petrochemical consumption, there isgreat scope to increase the sale of Indufil products using the global John Cranenetwork." Employing some 95 people, Indufil manufactures in Duiven and Ede, TheNetherlands. ENDS Investor Relations MediaPeter Durman Chris Fox+44 (0)20 8457 8203 +44 (0)20 8457 8403 About John CraneJohn Crane, a Smiths Group business, designs and manufactures seals andassociated products and provides services mainly for the oil & gas, chemical,pharmaceutical, pulp & paper and mining sectors. Since being established over 80years ago John Crane has become a leader in its field. John Crane's products area globally recognised and trusted brand by the oil and gas industry. The JohnCrane business has 20 manufacturing sites around the world and more than 6,000employees. For further information visit www.johncrane.com About Smiths Group Smiths is a global technology company listed on the London Stock Exchange. Aworld leader in the practical application of advanced technologies, Smiths Groupdelivers products and services for the threat & contraband detection, medicaldevices, energy and communications markets worldwide. Our products and servicesmake the world safer, healthier and more productive. Smiths Group employs morethan 20,000 people in over 50 countries. For more information visitwww.smiths.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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