01 December 2004

Smiths Strengthens its Presence in China with the Acquisition of a Leading Chinese Mechanical Seals Business

Smiths Group today announced that its Specialty Engineering business, John Crane, the international leader in modern sealing technology, has acquired Chinese-based Tianjin Timing Seals Co Ltd and associated technology for a consideration of 2.5m in cash. The company, which will be known as John Crane Timing, is a leading provider of gas sealing products for industrial turbo-machinery applications in China.

This acquisition underscores Smiths strategy to invest in China. In April, Smiths Aerospace opened a facility in Suzhou, Jiang Su province, to manufacture aircraft engine and airframe components. Other Smiths activities in China include Polyphaser, Shanghai, which is part of Smiths Interconnect, and an existing John Crane joint venture in Tianjin.

John Langston, Group managing director, Smiths Specialty Engineering division, said This acquisition combines John Crane Timings proprietary technology and capability with the world-wide resources of the John Crane organisation to offer the very latest sealing solutions for major industries in China and internationally.

ENDS