Regulatory News Item
For immediate release
This disposal is part of an ongoing corporate programme to focus the Company's portfolio on market leading scalable positions in its chosen markets. The proceeds will be reinvested in attractive growth opportunities for the Company.
Power is a provider of custom power distribution and monitoring solutions that ensure power quality in sensitive environments such as data centres, telecoms, medical and defence. Power reported total revenues of
"We continue to make progress in focusing our portfolio to position
"This disposal is part of a restructuring plan for Smiths Interconnect to provide a greater focus on markets and customers where our advanced connector and microwave technologies bring most value and potential.
"Since starting our programme, we have disposed of
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Smiths Interconnect is a recognised leader in technically differentiated electronic components and sub-systems providing signal, power and microwave solutions. Smiths Interconnect designs and manufactures application-specific products, incorporating innovative technologies that connect, protect and control critical systems for the global data centre, wireless telecommunications, aerospace, defence, space, medical, rail, test and industrial markets.
This announcement contains certain statements that are forward-looking statements. They appear in a number of places throughout this announcement and include statements regarding our intentions, beliefs or current expectations and those of our officers, directors and employees concerning, amongst other things, our results of operations, financial condition, liquidity, prospects, growth, strategies and the business we operate. By their nature, these statements involve uncertainty since future events and circumstances can cause results and developments to differ materially from those anticipated. The forward-looking statements reflect knowledge and information available at the date of preparation of this announcement and, unless otherwise required by applicable law, Smiths undertakes no obligation to update or revise these forward-looking statements. Nothing in this document should be construed as a profit forecast.
No statement in this announcement is intended to be a profit forecast and no statement in this announcement should be interpreted to mean that earnings per Smiths ordinary share for the current or future financial years would necessarily match or exceed the historical published earnings per Smiths ordinary share. Prices and values of, and income from, shares may go down as well as up and an investor may not get back the amount invested. It should be noted that past performance is no guide to future performance. Persons needing advice should consult an independent financial adviser.
This information is provided by RNS