01 June 2004

Smiths completes acquisition of US Interconnect business for $111.5 million cash

Smiths Group today announced the completion of the acquisition of TRAK Communications Inc., a leader in the design and manufacture of microwave sub-systems, antennas and related components, for a cash sum of $111.5 million (63m). This follows approval from the EU and US regulatory bodies.

This acquisition is the fifth Smiths has announced since presenting its interim results on 10 March, bringing total expenditure to $330.5 million (187m).

Commenting on this acquisition, Smiths Group chief executive Keith Butler-Wheelhouse said; "Smiths continues to pursue its strategy of profitable growth through investing in new technology and the acquisition of businesses which complement or expand our offering to the customer."

ENDS