Smith (DS) (SMDS) RNS Announcements
Add to Alert listSmiths Group plc, a British multinational engineering business headquartered in London, England.
1. Origins and Growth:
- Smiths Group traces its roots back to a humble jewelry shop called S. Smith & Sons, founded by the watchmaker and businessman Samuel Smith in 1851 at 12 Newington Causeway in southeast London.
- Initially, the shop supplied precision watches to various clients, including the Admiralty. However, it quickly expanded into a major provider of timepieces, diamonds, and automotive instrumentation.
2. Public Limited Company:
- On July 21, 1914, S. Smith & Sons transformed into a public limited company and has maintained this status for over a century.
- Significant restructuring occurred during the 1950s, leading to the establishment of divisions such as Smiths Medical Systems, Smiths Aviation, and Smiths Marine.
3. Diversification and Aerospace:
- Throughout the twentieth century, Smiths Group was a principal supplier of instruments to the British motorcar and motorcycle industries.
- In 1960, it reorganized as Smiths Industries Ltd.
- By the late 1970s, the markets for clocks, watches, and automotive instruments declined significantly.
- In the early 1980s, Smiths Industries ceased direct involvement as a supplier to Europe's automotive industry.
- Smiths Aerospace became a key business division, serving both military and civilian customers.
4. Twenty-First Century Focus:
- In the twenty-first century, Smiths Group shifted its focus to critical solutions:
- Manufacture of explosive-detecting sensors.
- Products and services for major process industries.
- Components that heat and move fluids and gases.
5. Global Presence:
- Smiths Group operates in over 50 countries and employs approximately 15,000 staff.
- It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
6. Legacy and Evolution:
- From a jewellery shop to a diversified engineering giant, Smiths Group's journey reflects adaptability, innovation, and resilience.
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