9 November 2007
Smiths Group plc, the global technology company, announced today that it has sold its Marine Systems business to KH Finance Limited, a company owned by ECI Partners LLP, for £52 million, comprising £48 million - which has been satisfied in cash - and a deferred payment of up to £4 million in cash depending on certain conditions being satisfied.
Marine Systems, which was a part of Smiths Specialty Engineering, trades as Kelvin Hughes and ChartCo and employs some 330 people, the majority located in Essex, UK. In the period to 31 July 2007 it had sales of £57.7 million.
ENDS
General media enquiries
Contact our global media and communications team at:
Please note – the press team can only answer enquiries from accredited members of the press.
Related articles
Smiths Detection secures deal to supply systems to major cruise lines
Find out more
Smiths Interconnect expands EMEA cable harness production capacity
Smiths Interconnect, announces the expansion of its cable harness production capacity at its facility in Tunisia, an investment for growth in support of all its EMEA production sites.
Find out more
Smiths Detection accelerates AI security offering with BigBear.ai collaboration
Read our company news as Smiths Detection accelerates its AI security offering with BigBear.ai
Find out more
