John Crane - A division of Smiths Group

JOHN CRANE BUILDS ITS BEARING CAPABILITY

John Crane entered into an agreement to purchase Turbo Components Engineering (TCE)

We are very pleased to announce that on 17th August 2011 John Crane entered into an agreement to purchase Turbo Components Engineering (TCE), based in Houston, Texas, USA. TCE is a leading aftermarket bearing repair facility with a globally recognized brand and a world renowned reputation for customer service, technical knowledge and product quality. When completed, the acquisition of TCE will build upon the strengths of our existing bearing organization to provide John Crane with significant know how, brand recognition, products and service offerings upon which to form a global bearing repair capability.

Subject to regulatory approval, the transaction is scheduled to complete in late September. More communications will be released following the formal closing. In the mean time should you have any questions related to the transaction, please contact Rubi Medina at ramedina@johncrane.com

We are very excited about this new opportunity which further enhances our existing bearings capability and supports the development and growth of John Crane into the leading global hydrodynamic bearings provider.

Yours Sincerely,

Paul Cox

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