Gooch & Housego PLC - Somerset, England-based photonics components and systems manufacturer - Agrees to acquire Artemis Optical Holdings Ltd for up to GBP8.9 million. Artemis is a Plymouth, Devon-based producer of thin-film coatings for aerospace and defence, industrial and life sciences customers. Gooch & Housego says the acquisition allows it "to offer both substrates and coating materials of the highest quality" while its "worldwide reach" will help Artemis access new territories.
G&H Chief Executive Officer Charlie Peppiatt says: "The addition of Artemis' coatings expertise to G&H's capabilities was identified in our new strategy as one of the opportunities to deliver sustainable margin growth for the company. Artemis' renowned excellence in thin-film coatings complements our existing capabilities to enable us to deliver advanced photonics technology and unparalleled value for our customers."
Current stock price: 594.00 pence, down 1.0% on Wednesday morning
12-month change: down 35%
By Emma Curzon, Alliance News reporter
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Gooch & Housego (GHH)