AEROSPACE and engineering group Smiths has raised £20m after agreeing to sell two of its non-core businesses.
The deals include the disposal of the Plenty fluid handling products business, which employs about 450 people in the UK and overseas.
Based at Newbury, Berkshire, Plenty is being bought by Lightnin, part of the SPX Corporation based in the US.
Plenty, whose equipment is used in water and oil pipelines, was formerly part of the TI Group which merged with Smiths last year.
The other business being sold is Smiths's European flexible hose operation, comprising Induplas in Italy and Flexiplas in Spain.
Employing 130 people, the venture is being bought by Petzetakis, a Greek industrial group.
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