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."

ENDS

Related Stories