Specialist Interconnect Company to be Acquired

Smiths Industries PLC 13 December 1999 Smiths Industries to acquire specialist interconnect company Smiths Industries is strengthening its international position in the manufacture of high performance connectors for the aerospace and defence industries, with the $52,4 million (£32.3 million) acquisition of Sabritec, a privately owned US business. Sabritec manufactures filter connectors and other specialist connectors, building on Smiths Industries' interconnect product interests, particularly its world-leading position in 'Hypertac' high performance connectors designed and manufactured by the company at five production centres in Europe and North America. Chief executive Keith Butler-Wheelhouse said: ' Sabritec is particularly well-placed on long-term defence programmes which are now entering their full production phase, such as Eurofighter and the Apache and NH-90 helicopters. We are fast developing our range of interconnect technologies, which is now a $300 million business, and we are already working closely with Sabritec to supply filtered Hypertac connectors to avionics manufacturers for the Eurofighter Typhoon programme.' Formed in 1980 by the present owners, who will remain with the business, Sabritec is based in Irvine, California and employs 185 people. Under the agreement, which is subject to US regulatory approval, expected in January 2000, Smiths Industries is acquiring the whole of the share capital of the company. For the year to 31 December 1999 Sabritec is expected to achieve sales of $18 million, and operating profits of more than $5 million before non-recurring items. Its principal product range is filter connectors, passive devices which protect an electrical circuit against radio frequency interference and electro magnetic pulses. The company's products serve the high specification end of the market, often for demanding applications such as the International Space Laboratory. Smiths Industries is a world leader in advanced electronic and electrical systems for the aerospace industry; single-use devices and critical care equipment for the healthcare sector; and specialist products for the interconnect and air handling markets. Press enquiries to: Richard Bayliss Tel: 020 8457 8306
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