Trelleborg makes two acquisitions in sealing sector
- Publisher
- Elsevier Science
- Year
- 2005
- Tongue
- English
- Weight
- 105 KB
- Volume
- 2005
- Category
- Article
- ISSN
- 1350-4789
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✦ Synopsis
Smiths Group reports 16% higher profits for first half of the year
The Smiths Group has reported increased interim profits for the first six months of its 2005 fiscal year, rising 16% to £155 million (US$295m) before tax. This trend is expected to be sustained in the second half of 2005.
The group spent £61m ($116m) on acquisitions during the half-year. This included the acquisition of Tianjin Timing Seals Co Ltd in China for £3m ($5.7m); this is now part of John Crane, in the group's Specialty Engineering division.
The resulting new company, Tianjin-based John Crane Timing, provides customers in this region with local access to a global scale resource. The company's product range will be drawn from both the existing John Crane and Tianjin Timing Seals portfolios, and will include both high and low pressure seals suited to applications in process industries such as oil, gas, pulp and paper, petrochemicals and chemicals.Technical support and service will be available on a round-the-clock basis both onsite, and at the company's Tianjin headquarters.
The acquisition of the US Seal product line from Superior Essex Inc, for £6m ($11.4m), has also been announced. It makes replacement mechanical seals which complement the John Crane range.