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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: 1,657.00
Bid: 1,656.00
Ask: 1,657.00
Change: 17.00 (1.04%)
Spread: 1.00 (0.06%)
Open: 1,653.00
High: 1,658.00
Low: 1,639.00
Prev. Close: 1,640.00
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UPDATE 3-UK orders 10,000 ventilators from Dyson for coronavirus patients

Wed, 25th Mar 2020 20:21

(Adds Babcock, background)

By Paul Sandle and Kate Holton

LONDON, March 25 (Reuters) - Britain has ordered 10,000
medical ventilators designed at breakneck speed by vacuum
cleaner-maker Dyson, billionaire founder James Dyson said, as
the country tries to boost the number of devices available to
treat coronavirus patients.

The government, in anticipation of cases peaking in Britain
in coming weeks, had made an urgent appeal to manufacturers to
supply the National Health Service and would also use devices
from private hospitals and other sources.

"We have received an initial order of 10,000 units from the
UK Government which we will supply on an open-book basis," James
Dyson said on Wednesday in an email to staff seen by Reuters.

"We are also looking at ways of making it available
internationally."

The government did not comment on the Dyson email.

Britain had been in talks with over 3,000 businesses about
supplying ventilators to quickly increase the health service's
capacity, Prime Minister Boris Johnson's spokesman said earlier
on Wednesday.

But he stressed that any design would need regulatory
approval.

The country's existing stock of about 5,000-8,000
ventilators is inadequate if cases jump as predicted. The number
of coronavirus deaths in Britain rose by 41 to 465 on Wednesday.

Dyson said since receiving a call from Johnson 10 days ago,
he had refocused resources at his company, and worked with TTP,
The Technology Partnership, to design and build an entirely new
ventilator, The CoVent.

It deployed its expertise in air movement, motors, power
systems, manufacturing and supply chain gained from its products
like air purifiers and fans as well as cleaners to develop the
ventilator from scratch.

The company, which revolutionised the vacuum cleaner market
with its bagless cyclonic device in the 1990s, said it would
work with regulators and government to ensure that the product
and the manufacturing process was approved.

Dyson said it was "clearly a time of grave international
crisis", and he would therefore donate 5,000 units to the
international effort, 1,000 of which would go to the United
Kingdom.

Separately, British engineer Babcock International Group Plc
said it had joined forces with a leading medical
equipment company to design and supply thousands of critical
care ventilators.

A number of other firms had joined forces to potentially
develop and manufacture a ventilator, including Airbus,
Smiths Group Plc, Ford Motor Co and McLaren.

Reuters had reported earlier that British industry expected
the government to give the go-ahead for an emergency ventilator
production plan on Wednesday.

(Reporting by Paul Sandle and Kate Holton; additional reporting
by William James; Editing by Lisa Shumaker)

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.

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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:

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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.

Read more
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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