2nd Aug 2005 07:02
Smiths Group PLC02 August 2005 News ReleaseLondon, 02 August 2005For immediate release Smiths announces three acquisitions Smiths Group plc has announced three acquisitions with a total consideration of£16 million in cash. These are in the Medical and the Specialty Engineeringdivisions and they are in line with company's strategy for growth. Smiths Medical has continued the consolidation of its global sales channels withthe acquisition of its distributor, Sevit, in Italy, Europe's fourth largestmedical device market. The consideration was £3.5 million. The acquisition ispart of the company's strategy to take more direct control of its sales channelsin important markets. It also reflects the benefits of the recent acquisition ofMedex, as Sevit will be combined with the existing Medex manufacturing and salesoperation in Italy and will run by the enlarged business, Smiths Medical Italia. Smiths Group has continued to develop the Flexible Technologies business of itsSpecialty Engineering division by acquiring two U.S. manufacturers to complementits product range and customer base. It has purchased Hi-Tech Hose Inc., basedin Georgetown, Massachusetts for a consideration of £9 million and Farnam CustomProducts of North Carolina for £3.5 million. - Ends - Contacts Media Chris Fox +44 (0)20 8457 8403 Investors Russell Plumley +44 (0)20 8457 8302 Smiths Group designs and manufactures safety critical systems and products andhas market-leading positions in aerospace systems, detection systems, medicaldevices, mechanical seals and interconnect products. For more information, visitwww.smiths-group.com Smiths Medical is a leading supplier of devices used during critical andintensive care, surgery, post-operative care during recovery, and in a series ofhigh-end home infusion therapies. Flexible Technologies, part of the Specialty Engineering division of SmithsGroup plc, offers a wide range of flexible hose and ducting for commercial andconsumer air moving products and for the conveying of gas, liquid and airbornesolids in the industrial processes. It is a leading supplier of vacuum cleanerhose. Ducting and heating elements are also offered for the HVAC and domesticappliance markets. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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