04 May 2004

Smiths Completes Acquisition of US Aerospace Business for $102 million Cash

Smiths Group today announced the completion of the acquisition of specialist aero-engine component manufacturer, Dynamic Gunver Technologies (DGT) of the US, for a cash sum of US $102 million (60m). This follows approval from the EU and US regulatory bodies.

Commenting on the purchase, Smiths Group chief executive Keith Butler-Wheelhouse said: "This acquisition continues Smiths strategy of growth in our major markets. We continue to seek excellent opportunities to strengthen our presence through investing in new technology and new business."