Dana opens new Michigan support centre

• Publisher: Elsevier Science
• Year: 2000
• Tongue: English
• Weight: 112 KB
• Volume: 2000
• Category: Article
• ISSN: 1350-4789
• DOI: 10.1016/s1350-4789(00)90129-6

✦ Synopsis

O chnology TI Group to merge with Smiths Industries, acquires specialist French seal-maker

The boards of Smiths Industries Plc and TI Group PIc have agreed the terms of a merger of their two companies. This will create a new force in specialist engineering, with a pro forma combined market capitalisation of approximately £4.~ billion (US$6.5 billion). Smiths Industries and TI Group shareholders will hold approximately 57.6% and 42.4%, respectively, of the new entity. lhc i'l (ir,)up i> nl(r~ccding with the sale of its 3,ut(mx,)ix c Svr¢l~n~ 1 ")i visJoll. Net proceeds fi'<)m this disposal will c:li()iir T] (.;r()up's world leading ";caJing >;(rlu;i~,I> b~sincss. Ihc merged gr()up 'a ,11 bc ~cll pl ~c,:c fi)~ ~utu~c gl,.)wt]l." Three major U,", cnginccring-to acrtrspa~.c ftrn/s wcrc lhOtlghl to bc c()nsidcring a cr)tllltCl-