Smiths Group plc (GB:SMIN) has released an update.
Smiths Group plc, a prominent industrial technology firm, has announced the acquisition of two North American companies, Modular Metal Fabricators, Inc., and Wattco, Inc., for a total of up to £110 million. These acquisitions will bolster Smiths Group’s HVAC and electrical heating solutions within its Flex-Tek division, offering expanded geographical reach, product offerings, and entering new markets. CEO Roland Carter emphasized the strategic nature of these acquisitions in enhancing their customer base, product range, and technological approach.
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