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.
18 Nov 2016
N+1 Singer - Oxford Instruments - Disposal of superconducting wire business
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
N+1 Singer - Oxford Instruments - Disposal of superconducting wire business
Oxford Instruments plc (OXIG:LON) | 2,322 0 0.0% | Mkt Cap: 1,345m
- 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.