15 July 2002

Smiths sells industrial fan distributors

Smiths Group has sold the distribution business Fans & Spares Group Ltd, and a separate distribution business in Ireland, for approximately 6.5 million in cash. These formed part of the air movement activities of Smiths Industrial division, together with fan manufacturing operations which are unaffected by this transaction.

Fans & Spares has been acquired by a group of private investors which will merge the business with their existing distributor of heating & ventilation products, R&S Cartwright (Manchester) Engineers Ltd. The Fans & Spares network comprises 18 branches throughout the UK. The Irish distribution business has been sold to a private investor. Together they generated annual sales of some 20m.

ENDS