18 Nov 2016
N+1 Singer - Oxford Instruments - Disposal of superconducting wire business
Oxford Instruments has announced the sale of its superconducting wire business to Bruker Corporation for $17.5m in cash. The wire business had seen declining sales and profitability due to competitive pricing pressure in its markets, generating a single digit operating margin in the most recent half year. The disposal will draw a line under these declines and provide a modest but welcome cash inflow to the group’s balance sheet.
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N+1 Singer - Oxford Instruments - Disposal of superconducting wire business
Oxford Instruments plc (OXIG:LON) | 2,215 775.3 1.6% | Mkt Cap: 1,283m
- Published:
18 Nov 2016 -
Author:
Jo Reedman -
Pages:
3
Oxford Instruments has announced the sale of its superconducting wire business to Bruker Corporation for $17.5m in cash. The wire business had seen declining sales and profitability due to competitive pricing pressure in its markets, generating a single digit operating margin in the most recent half year. The disposal will draw a line under these declines and provide a modest but welcome cash inflow to the group’s balance sheet.