4 May 2007
Smiths Group plc today announces the completion of the $4.8 billion sale of its aerospace businesses to General Electric Company in line with the terms set out in the Circular to Shareholders dated 30 January. Completion follows regulatory approval from all relevant authorities including the European Union and the US.
Commenting on the sale, Smiths Group chief executive Keith Butler-Wheelhouse said: "We are delighted to have completed this transaction which delivers on the Boards objective to create superior shareholder value. Looking forward, Smiths is focused on the high growth detection, medical devices, energy and communications markets. We are now well positioned to capitalise on opportunities to deliver enhanced returns and strong cash conversion."
As announced on 15 January, Smiths proposes to return 2.1bn to shareholders by means of a B share scheme accompanied by a share consolidation, the details of which will be set out in a Circular to be sent to shareholders in the near future.
General media enquiries
Contact our global media and communications team at:
Please note – the press team can only answer enquiries from accredited members of the press.
Related articles
![Davinci Gen V Gen Front View[36]](/media/wlocq5n4/davinci-gen-v-gen-front-view-36.jpg?width=431&height=214&format=webp&quality=100&v=1dbb81c2473de50)
Smiths Interconnect launches ‘DaVinci Gen V’ next-generation test socket
Read our latest company news as Smiths Interconnect launches ‘DaVinci Gen V’ next-generation test socket
Find out more
Smiths Detection secures deal to supply systems to major cruise lines
Find out more
Smiths Interconnect expands EMEA cable harness production capacity
Smiths Interconnect, announces the expansion of its cable harness production capacity at its facility in Tunisia, an investment for growth in support of all its EMEA production sites.
Find out more
