3rd Feb 2006 07:01
Smiths Group PLC03 February 2006 Smiths Group announced today that it has acquired the business and assets ofLorch Microwave LLC, adding microwave filter technology to its electroniccomponents and subsystems Interconnect business. Smiths Group has acquired thebusiness for $25 million from undisclosed private vendors, including $1 millionpayable after 31 July 2007 contingent on certain conditions being met. Commenting on the acquisition, Keith Butler-Wheelhouse, chief executive ofSmiths Group said: "This is another step towards our goal of increasing therange of technologies we can offer to our Interconnect customers. Lorch fitsthe Smiths Group mould perfectly, combining strong technology, an excellentcustomer base and high quality management and employees." Based in Maryland USA and with 155 employees, Lorch designs and manufacturesfilter components and integrated assemblies used in various microwaveapplications including communication and defence systems. Microwave filters are an essential component in microwave systems and Lorch hasa large portfolio of designs across multiple filter technologies that will giveInterconnect a significant position in this growing market segment. John Langston, Group managing director of Smiths Specialty Engineering said: "Iam delighted that we have acquired Lorch, which complements Smiths' otherInterconnect businesses, particularly TRAK Microwave. Lorch will boost ourpresence in the fast-growing military communications and electroniccountermeasures markets." The Interconnect part of Smiths Group's Specialty Engineering division is aglobal supplier of components and subsystems for connecting, protecting andcontrolling critical electronic and radio frequency systems for customers in thewireless telecommunications, aerospace, defence, space and medical markets. 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. Contacts MediaChris Fox +44 (0)20 8457 8403 Investor RelationsRussell Plumley +44 (0)20 8457 8203 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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