Acquisition

RNS Number : 2084S

Smiths Group PLC

14 May 2009

 



News Release

London, 14 May 2009

For immediate release

JOHN CRANE COMPLETES PURCHASE OF ORION

JOHN CRANE, a division of global technology business Smiths Group, today announces completion of its purchase of Orion Corporation, a leading US-based designer and manufacturer of hydrodynamic bearings for energy and general industrial markets. This follows regulatory clearances of the acquisition, first announced on 26 March 2009.

Orion complements and extends John Crane Bearing Technology, formed after the acquisition of a German-based bearings firm in October 2007. It designs and makes hydrodynamic bearings for high-speed turbine, generator, compressor and gear drive applications for the oil and gas, power generation and general industrial markets.

Paul Cox, President of John Crane, said: 'Integration of Orion will build critical mass in our hydrodynamic bearing business and will add a manufacturing, sales and service base in North America to supplement our existing operations in Europe. This purchase establishes John Crane as a global leader in the hydrodynamic bearings sector.'

ENDS

Investor Relations 

Peter Durman

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Media 

Colin McSeveny

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About John Crane

John Crane is part of Smiths Group, a global technology business. John Crane designs and manufactures seals and associated products mainly for the oil & gas, chemical, pharmaceutical, pulp & paper and mining sectors. Since being established over 80 years ago John Crane has become an acknowledged global leader in its field. Today it provides the most complete selection of engineered mechanical seals and sealing support systems for use in pumps, compressors and other rotating equipment, complemented by an expanding range of engineered bearings, filtration systems and power transmission couplings all of which are supported by the global John Crane sales and service network. For further information visit www.johncrane.com

About Smiths Group 

Smiths is a global technology company listed on the London Stock Exchange. A world leader in the practical application of advanced technologies, Smiths Group delivers products and services for the threat & contraband detection, medical devices, energy and communications markets worldwide. Our products and services make the world safer, healthier and more productive. Smiths Group employs more than 20,000 people in over 50 countries. For more information visit www.smiths.com.

 

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