Smiths disposals realise £10 million

Smiths Group has completed the disposal of five small non-core businesses, for a total consideration of approximately 10 million. The businesses were all previously part of TI Group, which merged with Smiths last year, and make specialised equipment not associated with the principal activities of Smiths. Together, these businesses have sales of 41 million and employ some 640 people.

The disposals are:

• Cambridge Vacuum Engineering Ltd, acquired by Aquasium Technologies Ltd;
• Woodville Airbag Engineering, sold to Automotive Safety Components International, a subsidiary of Safety Components International Inc.;
• Three former EIS Group businesses: Horstman Defence Systems Ltd, Aeronautical & General Instruments Ltd, and AB Precision (Poole) Ltd, all acquired by Harris Watson Holdings PLC.

Smiths Group is a global business with market-leading positions in advanced aerospace systems; mechanical and polymer seals; medical devices and critical care equipment; and interconnect products.

ENDS