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flag Smiths Group sells its Interconnect division to Molex for £1.3 billion to refocus on core units and return funds to investors.

flag Smiths Group has agreed to sell its Smiths Interconnect division to U.S. firm Molex for £1.3 billion in cash, with the deal expected to close in the second half of 2026. flag The move, driven by shareholder pressure and a strategic shift, aims to refocus the company on its core industrial engineering units, John Crane and Flex-Tek. flag Proceeds will support a £500 million share buyback program and return significant funds to investors. flag Smiths Interconnect, which reported £86.1 million in underlying earnings for 2024–2025, operates globally in aerospace, energy, automotive, and semiconductor sectors. flag The company is also considering spinning off its Smiths Detection unit.

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