4 September 2008
SMITHS Group plc today announced the sale of an eight acre former operational site in Basingstoke, Hampshire for £16 million. Prior to the sale Smiths secured planning consent for more than 95,000 ft.² of retail warehouse development on this site.
The site has a current book value of £4.3 million and was occupied by part of the Smiths Aerospace division until October 2002, when it relocated to Cheltenham. Smiths Aerospace was sold to General Electric Company in May 2007.
Smiths Group Chief Executive Philip Bowman said: "This property sale is part of our drive to maximise returns on capital for shareholders through the disposal of surplus assets within the Group".
ENDS
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
Smiths Detection unveils new mobile threat detection technology
Our latest Smiths Group press release outlines news that Smiths Detection has launched a new mobile threat detection screening solution
Find out more
Smiths Detection accelerates partnership with SeeTrue
Read more on Smiths Detection's partnership with SeeTrue, integrating AI technology into its advanced CT security checkpoint systems.
Find out more
John Crane awarded 5-year maintenance contract from SK Advanced in South Korea
Read our latest company news as John Crane announces a new 5 year contract with SK Advanced, South Korea
Find out more
