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BTR Siebe plc Clarifies Recent Press Speculation On Possible Disposals

1 April 1999

BTR Siebe plc Clarifies Recent Press Speculation On Possible Disposals

    LONDON, England--March 31, 1999--United Kingdom-based BTR Siebe plc today announced that following the completion of the merger of BTR plc and Siebe plc, the company is carrying out a strategy review of its business portfolio. As part of this process, external advisers have been engaged to assist the company in assessing the options for certain of the operations.
    Speculation regarding the businesses involved, potential values and the timing of any further announcement is premature.
    BTR Siebe plc is a world class automation and controls group created by the merger of BTR plc and Siebe plc on February 4, 1999. Operating globally through over 500 companies and employing 125,000 people, BTR Siebe is Britain's largest electronics and engineering group. Over 75% of the Group's business is controls and automation based, with products ranging from advanced computer systems for automating industrial plants and controlling the environments of buildings, to electronic devices found in many domestic and commercial appliances.