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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
SMIN Live PriceLast checked at -

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UPDATE 2-Ventilator receives first approval in UK's coronavirus battle

Thu, 16th Apr 2020 10:37

(Adds details)

By Costas Pitas

LONDON, April 16 (Reuters) - Britain has given regulatory
approval to a ventilator which will be made by a group of
companies including Airbus, Ford and McLaren, the first such
go-ahead as part of efforts to combat the coronavirus.

Governments around the world are trying to boost the number
of available mechanical breathing devices that can supply air
and oxygen, crucial for the care of people who suffer lung
failure, which can be a complication of COVID-19.

The modified version of an existing design by medical
devices company Penlon will join a product from Smiths, which is
already being built by a consortium of aerospace, engineering,
Formula One and automotive firms to fulfil a government order.

"We are working closely with our supply chain partners to
rapidly scale up production to achieve our target of at least
1,500 units a week," said Dick Elsy, chief executive of the
VentilatorChallengeUK consortium.

The government said on Thursday it wanted 15,000 Penlon
devices and thousands from Smiths.

The initiative comes after Prime Minister Boris Johnson
called on industry to help combat the pandemic, with several
manufacturers switching from their normal day-to-day activities
to contribute to the project.

Ford's Dagenham plant in east London, Britain's biggest
automotive engine factory, is now testing and assembling some
components for ventilators.

Planemaker Airbus is using its Welsh Broughton
site, which makes wings for commercial aircraft, for the
sub-assembly of absorbers and flow machines.

McLaren's southern English Woking site is making trolleys on
which the medical devices are fixed for use in clinical
settings.

Over 10,000 mechanical ventilators are available to patients
in Britain's publicly funded health service with more to come
from this production run and overseas purchases, the government
has said.

But whilst new models need approval, it is also taking time
to ramp up the output of existing designs and prompting
questions about suitability.

On Sunday, a source told Reuters that the government had
cancelled an order for thousands of units of a simple model,
known as BlueSky, because more sophisticated devices are now
needed.
Separately, vacuum-cleaner firm Dyson is still awaiting
approval for its ventilator.

"Contracts are under discussion with Dyson and are not yet
available," the Cabinet Office told Reuters on Tuesday in
response to a freedom of information request.
(Editing by Kate Holton and Stephen Addison)

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.

Read more
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.

Read more
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.

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