01 July 2008

Smiths buys Australian electronics firm

SMITHS Group, the global technology company, today announces the acquisition of Triasx Pty Ltd (“Triasx”), a Brisbane-based wireless communications components manufacturer, from private owners for an undisclosed cash sum.

Triasx expands Smiths Interconnect's microwave business adding the design and development of complex radio frequency filter products for the wireless communications market, including the recent development of portable testing devices used to locate interference affecting mobile phone base stations.

For the 12 months ended 30 June 2008, Triasx posted estimated sales of £12.5 million.
 
Ralph Phillips, Acting President Smiths Interconnect, said: “Triasx has in-depth knowledge of the telecommunications radio frequency market and an excellent R&D capability.  Its strong filter capabilities complement our existing products, particularly those from Allrizon, our recent China-based acquisition.  In addition, the Triasx interference testing devices fit well with our existing Summitek business and together they will offer an unparalleled range of interference testing solutions.

“With manufacturing in Australia and China, the acquisition is part of Smiths Interconnect's strategy of expanding its global footprint. The Triasx range of products will be extensively marketed across Smiths Interconnect’s existing global sales network.”

Triasx has a total of approximately 160 employees located in Brisbane, Australia and Suzhou, China.
 
From 1 August 2008 the Smiths Specialty Engineering division, of which Smiths Interconnect is a part, ceases to exist and Smiths Interconnect becomes a division of Smiths Group in its own right.