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(Alliance News) - Filtronic PLC said Thursday it has completed the sale of its Telecoms Antenna business to Microdata Telecom Innovation Stockholm AB.
In the middle of December the antenna maker signed an agreement to sell its Telecoms Antenna operations to Microdata Telecom for USD5.5 million.
The company had announced its intention to sell the unit in September, following a strategic review.
Reg Gott, executive chair, said: "The sale strengthens our balance sheet, simplifies our business, and enables us to focus on business activities that better suit our core strengths."
Filtronic shares were up 0.6% in London at 9.05 pence each on Thursday.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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