Regulatory News Item
For immediate release
This divestment is part of the ongoing corporate programme to concentrate the portfolio on scalable market leading positions in the Company's chosen markets. The proceeds will be reinvested in attractive growth opportunities for the Company.
SMT is a manufacturer of components, sub-assemblies, antennas and test system solutions, serving the communications, defence, medical, rail and energy markets. Products are primarily used to support the build-out and upgrading of wireless telecommunications infrastructure. SMT reported total revenues of
"This divestment shows further progress in focusing
"Having sold the Power business in January, we have now focused Smiths Interconnect on markets and customers where our advanced connector and microwave core technologies bring most value and potential.
"Since starting our programme, we have divested around
KPMG Corporate Finance acted as exclusive financial adviser to Smiths Interconnect on the sale.
Marion Le Bot,
+44 (0)20 7004 1672
+44 (0)75 8315 4386
+44 (0)203 727 1323
+44 (0)777 564 1807
+44 (0)203 727 1459
+44 (0)797 953 7449
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