Acquisition
26 7월 2007 - 4:03PM
UK Regulatory
RNS Number:8883A
Oxford Instruments PLC
26 July 2007
26th July 2007
Oxford Instruments plc
Acquisition of Worldwide Analytical Systems AG (WAS).
Oxford Instruments plc ("the Company"), the high technology tools and systems
company, announces today that it has received irrevocable acceptances for 81.4%
of the issued share capital of WAS, a leading German manufacturer and
international supplier of Arc/Spark optical emission instrumentation used to
analyse the chemical properties of metals.
The acquisition has the full support of the WAS Board and an offer for the
remaining minority shares has been made A maximum consideration of #9.3m will be
payable in cash if 100% of the shares and convertible bonds are acquired.
It is expected that the acquisition will have a positive impact on trading
profit in its first year.
In the year to 31 December 2006, WAS reported turnover of #5.7m and a trading
profit of #0.4m. The gross assets acquired in the transaction total #3.3m.
WAS' technology and expertise in mobile, portable and stationary optical
emission spectrometry (OES) will significantly strengthen and complement Oxford
Instruments Industrial Analysis' existing product range of industrial
spectrometers. The OES technique is particularly suited for the identification
of elements such as Carbon, Sulfur, Phosphorous and Nitrogen in metals in
amongst others, the steel industry. Inspection companies use OES for maintenance
work at petrochemical and nuclear plants where use of the correct metal alloy is
vital. Customers in the aviation, oil refining and recycling industries will now
have a greater choice of high performance tools to meet their demanding quality
control and safety requirements.
This acquisition is part of the strategy put in place by Chief Executive,
Jonathan Flint, to acquire complementary technologies and double the size of the
Company over five years.
Bradley Boyer, President of Oxford Instruments Industrial Analysis (OIIA), said:
''This acquisition is part of our on-going strategy to deliver added value to
our customers and to grow our share of the Optical Emission market. We are
delighted that WAS will be joining us, and look forward to working with them to
deliver an enhanced service to our customers.''
Vito Angona, Managing Director of WAS, is joining the OIIA Board. ''We are
delighted to be part of Oxford Instruments" he said, "and look forward to
playing a significant role in the next stage of business growth."
- Ends -
Enquiries:
Oxford Instruments plc Tel: 01865 393 200
Jonathan Flint Chief Executive
Kevin Boyd Group Finance Director
Hogarth Partnership Limited Tel: 020 7357 9477
Rachel Hirst
Andrew Jaques
Ian Payne
Notes to Editors
Oxford Instruments designs, supplies and supports high-technology tools,
processes and solutions with a focus on physical science, bioscience,
environmental and industrial research and applications. It provides solutions
needed to advance fundamental nanoscience research and its transfer into
commercial nanotechnology applications. Innovation has been the driving force
behind Oxford Instruments' growth and success for over 40 years, and its
strategy is to effect the successful commercialisation of these ideas by
bringing them to market in a timely and customer-focused fashion.
The first technology business to be spun out from Oxford University over forty
years ago, Oxford Instruments is now a global company with over 1,300 staff
worldwide and a listing on the London Stock Exchange (OXIG). Its objective is to
be the leading provider of new generation tools and systems for the Physical
Science and Bioscience sectors.
This involves the combination of core technologies in areas such as low
temperature and high magnetic field environments, Nuclear Magnetic Resonance,
X-ray electron and optical based metrology, and advanced growth, deposition and
etching. Our products, expertise, and ideas address global issues such as
energy, environment, terrorism and health and are part of the next generation of
telecommunications, energy products, environmental measures, security devices,
drug discovery and medical advances.
WAS AG is a leading German manufacturer and international supplier of Arc/Spark
optical emission spectrometers and preparatory equipment used to analyse the
chemical properties of metals. The product range covers mobile, portable and
stationary emission spectrometers for laboratory and industrial applications.
At its headquarters and production facility in Uedem, 67 employees manufacture
more than 450 systems per year. Highly skilled engineers and specialists provide
after sales service and support for customers and partners worldwide
WAS AG is active in more than 40 countries. Since breaking into the market in
1999 more than 2000 spectrometer systems have been installed. The worldwide
distribution and subsequent investments in new technologies resulted in an
annual growth of 25%.
In just a few years, WAS AG has managed to establish itself as a leading
supplier of spectrometers. This success is primarily due to the emphasis of the
Company's philosophy of "distinction by innovation" and the reputation of being
a problem solver.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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