Smiths Group Regulatory News (SMIN)

4 May 2007 17:28

Smiths Group PLC04 May 2007 Smiths Group completes sale of aerospace businesses SMITHS Group plc today announces the completion of the $4.8 billion sale of itsaerospace businesses to General Electric Company in line with the terms set outin the Circular to Shareholders dated 30 January. Completion follows regulatoryapproval from all relevant authorities including the European Union and the US. Commenting on the sale, Smiths Group chief executive Keith Butler-Wheelhousesaid: "We are delighted to have completed this transaction which delivers on theBoard's objective to create superior shareholder value. Looking forward, Smithsis focused on the high growth detection, medical devices, energy andcommunications markets. We are now well positioned to capitalise onopportunities to deliver enhanced returns and strong cash conversion." As announced on 15 January, Smiths proposes to return £2.1bn to shareholders bymeans of a B share scheme accompanied by a share consolidation, the details ofwhich will be set out in a Circular to be sent to shareholders in the nearfuture. Contacts: Investor Relations MediaRussell Plumley Chris Fox+44 (0)20 8457 8203 +44 (0)20 8457 8403 Smiths Group Smiths is a global technology company, listed on the London Stock Exchange.Smiths Group is a world leader in the practical application of advancedtechnologies. Its products and services make the world safer, healthier and moreproductive. Smiths Group has three divisions focused on the high growthdetection, medical devices, energy and communications markets. It employs morethan 20,000 people in over 50 countries. For more information visitwww.smiths.com This information is provided by RNS The company news service from the London Stock Exchange