10 July 2017
Smiths Group plc (“Smiths Group”) today announces that it has completed the sale of the explosive trace detection business formerly owned by Morpho Detection (the “Trace Business”) to OSI Systems, Inc. for an enterprise value of $75.5 million, subject to customary working capital adjustments. The proceeds will be reinvested in attractive growth opportunities.
As previously announced, in connection with its acquisition of Morpho Detection from Safran, Smiths Group had made commitments to the European Commission and the Department of Justice to sell the Trace Business.
Related articles
John Crane signs five-year contract to support major oil company’s Canada complex
Read our latest company news as John Crane signs a 5-year contract with a major hydrocarbon processing complex
Find out more
John Crane awarded major 5-year Dry Gas Seal repair contract from KPO
John Crane, a global leader in rotating equipment solutions and energy transition technologies and services, and a business of Smiths Group plc, has been awarded a significant contract from Karachaganak Petroleum Operating B.V. (KPO) one of the major oil and gas operators based in Kazakhstan.
Find out more
Smiths Interconnect launches new technology to reduce power loss in industrial batteries
Innovative, environmentally friendly product provides up to 90% more energy transfer than existing offering
Find out more
