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Pin to quick picksSmiths Group Share News (SMIN)

Share Price Information for Smiths Group (SMIN)

London Stock Exchange
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Share Price: 1,640.00
Bid: 1,637.00
Ask: 1,639.00
Change: 26.00 (1.61%)
Spread: 2.00 (0.122%)
Open: 1,625.00
High: 1,644.00
Low: 1,620.00
Prev. Close: 1,614.00
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UPDATE 1-Britain orders ventilators from vacuum-maker Dyson as F1 teams stand ready

Thu, 26th Mar 2020 14:07

* Britain orders 10,000 ventilators from Dyson

* Goevrnment seeks 30,000 new ventilators in total

* Separate engineering consortium awaits green light
(Adds government statement)

By Paul Sandle, Kate Holton and Costas Pitas

LONDON, March 26 (Reuters) - Britain has placed an emergency
order of 10,000 ventilators designed at breakneck speed by
bagless vacuum cleaner company Dyson, the first fruits of an
industry-wide call to arms to prepare for the looming peak of
the coronavirus outbreak.

In another industry effort, a consortium of companies in the
aerospace and engineering sectors are working with seven Formula
One racing teams to ramp up production of existing ventilator
models, with a manufacturing launch date penned in for March 30.

Ahead of an expected surge of cases that could overwhelm
Britain's publicly funded health service, Prime Minister Boris
Johnson made an urgent appeal to manufacturers 10 days ago to
build ventilators to help keep patients alive.

Production of Dyson's new CoVent ventilator could start
early next month but the government made clear the order was
dependent on it passing safety and regulatory tests.

"The core challenge was how to design and deliver a new,
sophisticated medical product in volume and in an extremely
short space of time," billionaire founder James Dyson said on
Wednesday evening in an email to staff seen by Reuters.

"The race is now on to get it into production."

Dyson is able to draw on the company's expertise in air
movement, motors, power systems, manufacturing and supply chains
to design and build an entirely new ventilator.

The company revolutionised the vacuum cleaner market with
its bagless cyclonic device in the 1990s and has since gone on
to build air purifiers, hand dryers and fans from its base in
southwest England and manufacturing plants in Malaysia,
Singapore and the Philippines.

TARGET: 30,000

The aerospace and engineering consortium, meanwhile,
includes such names as Rolls-Royce, BAE, Airbus
and Siemens UK which will help existing medical device
makers such as Penlon and Smiths Group to ramp up production.

It is waiting for the green light from government.

British engineer Babcock has also joined forces with
a leading medical equipment company and experts from London's
Royal Brompton Hospital.

The companies have all sprung into action after the
government said it needed another 30,000 ventilators to save the
lives of patients who develop complications with COVID-19. The
government is also acquiring the life-saving devices from
private hospitals and international producers.

Britain currently has about 8,000 ventilators with another
8,000 on order to come into the health system in about a week

By 0900 GMT on Wednesday some 9,529 people had tested
positive for the virus in the United Kingdom while 463 patients
had died.

Britain has also bought 3.5 million antibody testing kits -
largely used to determine if someone has already had the virus -
and is currently making sure they work before distributing them.

Prototypes of an antibody test which could be a game-changer
in the fight against the pandemic are being assessed and are
ready to be optimised, the developer of the technology said on
Thursday.

Many staff within the National Health Service (NHS) have not
been tested, a major concern for health workers and a cause of
mounting criticism of the government's response.
(Additional reporting by Alistair Smout; Editing by Guy
Faulconbridge, Stephen Addison and Pravin Char)

More News
30 Aug 2023 08:04

IN BRIEF: Smiths Group buys US firm Heating & Cooling Products

Smiths Group PLC - London-based engineering firm - Acquires Heating & Cooling Products Inc, a Ohio-based manufacturer of heating, ventilation and air conditioning products. Smiths is paying USD82 million on a cash and debt-free basis for HCP, which recorded USD69 million in revenue in the 12 months that ended July 31. Smiths doesn't provide HCP's recent earnings but says the acquisition is done at 7x multiple to HCP's estimated 2023 earnings before interest, tax, depreciation and amortisation. HCP will be integrated within the Flex-Tek division of Smiths. The UK company says the acquisition expands its presence in the North American HVAC market, highlighting HCP's axial and radial seal duct technology, which improves energy efficiency.

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30 Aug 2023 07:09

Smiths Group beefs up HVAC offering with $82m acquisition

(Sharecast News) - Engineering giant Smiths Group is beefing up its US heating, ventilation and air conditioning (HVAC) operations with the purchase of Ohio-based Heating & Cooling Products.

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17 Jul 2023 09:20

LONDON BROKER RATINGS: JPMorgan cuts Spectris; Berenberg likes Victrex

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

Read more
6 Jul 2023 09:25

LONDON BROKER RATINGS: JPMorgan raises Mondi and Smurfit Kappa

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning:

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6 Jul 2023 09:20

RBC Capital upgrades Smith Group

(Sharecast News) - RBC Capital Markets upgraded Smiths Group on Thursday to 'sector perform' from 'underperform' and lifted the price target.

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6 Jul 2023 08:05

Broker tips: Mondi, Smurfit Kappa, Smiths Group

(Sharecast News) - JPMorgan Cazenove upgraded packaging and paper firms Smurfit Kappa and Mondi on Thursday to 'overweight' from 'neutral' and kept DS Smith at 'overweight'.

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6 Jul 2023 07:43

LONDON BRIEFING: FTSE 100 to fall as more US rate hikes expected

(Alliance News) - Stocks are called lower in London on Thursday, after hawkish minutes from the US Federal Reserve once again gave rise to interest rate fears.

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27 Jun 2023 08:57

LONDON BROKER RATINGS: UBS cuts BT'; HSBC starts Smiths with 'hold'

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

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27 Jun 2023 07:56

LONDON BRIEFING: Stocks called up; record profit for Telecom Plus

(Alliance News) - Stock prices in London were set to open higher on Tuesday, following a positive session for equities in Hong Kong and Shanghai.

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24 May 2023 10:07

IN BRIEF: Chemring hires Smiths Group's James Mortensen as new CFO

Chemring Group PLC - Romsey, England-based provider of technology products and services to aerospace, defence and security markets - Appoints James Mortensen as chief financial officer. Mortensen joins Chemring from Smiths Group PLC, the FTSE 100-listed engineering group where he has spent the last seven years, and where he was most recently the group head of corporate development on the M&A team.

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19 May 2023 10:41

UPDATE: Smiths hails John Crane, Detection and Flex-Tek as ups outlook

(Alliance News) - Smiths Group PLC on Friday raised its annual guidance on the back of strong customer demand in its end markets, as it reported "continued strong growth" in its financial third quarter.

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19 May 2023 08:46

LONDON MARKET OPEN: Stocks rise on US debt optimism; Nikkei shines

(Alliance News) - Stock prices in London were on the up at Friday's open, with sentiment boosted by progress on debt ceiling talks in the US.

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19 May 2023 08:06

TOP NEWS: Smiths raises annual guidance on back of continued growth

(Alliance News) - Smiths Group PLC on Friday raised its annual guidance, as it reported "continued strong growth" in its financial third quarter.

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19 May 2023 07:56

LONDON BRIEFING: Smiths Group raises guidance after strong nine months

(Alliance News) - Stocks in London were called higher on Friday, amid optimism of a resolution to the US debt ceiling impasse.

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19 May 2023 07:02

Smiths Group lifts guidance after strong Q3

(Sharecast News) - Smiths Group lifted revenue guidance after a strong third quarter, driven by volume and price growth.

Read more

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