Sartorius AG Sells Hydrodynamic Bearings Business to the British Smiths Group

GOETTINGEN, Germany--(BUSINESS WIRE)--Today, Sartorius AG (FWB:SRT) signed an agreement with the British technology group Smiths (LSE:SMIN) to sell German-based Sartorius Bearing Technology GmbH to this Group. According to the agreement, the Smiths Group will retroactively purchase all of the shares in the hydrodynamic bearing company effective September 1, 2007, subject to usual approval procedures, such as antitrust clearance. The purchase price is approximately 20 million euros. Sartorius Bearing Technology GmbH is to be integrated into the John Crane business of Smiths, which focuses on the design and manufacture of seals. John Crane will take on all Sartorius Bearing Technology employees numbering around 100 persons at the Goettingen location. The transaction is expected to be closed within approximately the next six weeks.

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