19 March 2008

Smiths acquisition adds new dimension to John Crane

Smiths Group, the global technology company, today announces the acquisition of Indufil BV, a Dutch-based specialist in filters for the petrochemical and process industries.  The cost of the acquisition, which has not been disclosed, is to be satisfied in cash.  Final agreement is subject to the usual Dutch employee consultation and approval procedures and completion is subject to regulatory approvals.

Indufil designs and builds specialist filtration systems.  These are used for rotating equipment in the petrochemical and power sectors.  It also benefits from a strong aftermarket for its products.  Indufil will become part of Smiths John Crane business.  In the financial year to 31 December 2007, Indufil had sales of £26 million.

Paul Cox, Group Managing Director of Smiths Specialty Engineering, said: “This is a great example of our growth strategy of expanding John Crane’s technology footprint.  Last October we acquired Sartorius which added rotating bearings, now Indufil adds filtration systems to our growing portfolio.”

He added: “Indufil competes in a market worth in excess of £300 million.  It sells a broad range of filtration systems, filter elements and associated products to customers who already use John Crane’s technology and services for their equipment and facilities.  With growth driven by the expansion of the turbine power generation sector and rising petrochemical consumption, there is great scope to increase the sale of Indufil products using the global John Crane network.”

Employing some 95 people, Indufil manufactures in Duiven and Ede, The Netherlands.

ENDS