19th Sep 2005 07:02
Spirent PLC19 September 2005 Spirent PLC NETWORK PRODUCTS DIVISION London, UK - 19 September 2005: Spirent plc (LSE: SPT; NYSE: SPM), a leadingcommunications technology company, today announces that it has started a formalprocess that is expected to result in the sale of its Network Products division,HellermannTyton. This decision is consistent with the Group's stated strategy offocusing on growing its Communications group whilst maximising the value of itsother businesses. HellermannTyton provides innovative solutions for fastening, identifying,insulating, organising, routing and connectivity that add value to electricaland communication networks in a wide range of applications. It continues todemonstrate 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 FinancialAdvisers to the Company in relation to the disposal. Anders Gustafsson, Chief Executive, commented: "HellermannTyton is an excellent business that is performing well. Given ourstrategy to concentrate our resources on the development of the Communicationsgroup, we believe that this is a good time to realise value from our successfulinvestment in HellermannTyton and strengthen our overall financial position." - ends - Enquiries Anders Gustafsson, ChiefExecutive Spirent plc +44 (0)1293 767676Eric Hutchinson, FinanceDirector Tim Shacklock Gleacher Shacklock +44 (0) 7484 1150 LLPEdward Cumming-Bruce Julian Cazalet JPMorgan Cazenove Ltd +44 (0) 7588 2828Andrew Hodgkin Reg Hoare Smithfield +44 (0)20 7360 4900Katie Hunt About Spirent Spirent is a leading communications technology company focused on deliveringinnovative systems and services to meet the needs of customers worldwide. We area global provider of performance analysis and service assurance solutions thatenable the development and deployment of next-generation networking technologiessuch as broadband services, Internet telephony, 3G wireless and web applicationsand security testing. Our Network Products business is a developer andmanufacturer of innovative solutions for fastening, identification, protectionand connectivity in electrical and communications networks marketed under theglobal brand HellermannTyton. The Systems group comprises PG Drives Technologywhich develops power control systems for specialist electrical vehicles in themobility and industrial markets. Further information about Spirent plc can befound 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 theform of American Depositary Shares (ADS), represented by American DepositaryReceipts, with one ADS representing four Ordinary shares. Spirent and the Spirent logo are trademarks or registered trademarks of Spirentplc. All other trademarks or registered trademarks mentioned herein are held bytheir respective companies. All rights reserved. This press release may contain forward-looking statements that are based oncurrent expectations or beliefs, as well as assumptions about future events. Bytheir nature, forward-looking statements are inherently predictive, speculativeand involve risk and uncertainty because they relate to events and depend oncircumstances that will occur in the future. You should not place undue relianceon these forward-looking statements, which are not a guarantee of futureperformance and are subject to factors that could cause our actual results todiffer materially from those expressed or implied by these statements. Theserisks include the risks described from time to time in Spirent plc's Securitiesand Exchange Commission periodic reports and filings. The Company undertakes noobligation to update any forward-looking statements contained in this pressrelease, whether as a result of new information, future events or otherwise. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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