(Alliance News) - Oxford Instruments PLC said Wednesday it has sold its 47% stake in joint venture Scienta Omicron for SEK147 million, around GBP11.7 million.
The joint venture was set up in 2015, consisting of the research tools provider's Omicron Nanotechnology GmbH business and Scienta Scientific, a unit of Sweden-based GD Intressenter AB to make ultra-high vacuum surface science products.
"The sale of our share in Scienta Omicron supports our continued customer-centric focus on our chosen markets with long-term growth drivers where we can maintain or develop leading positions, enhancing our ability to deliver further growth and margin improvement," said Chief Executive Ian Barkshire.
Shares in Oxford Instruments - which is based in Abingdon - were up 0.7% at 1,548.00 pence on Wednesday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Oxford Instruments (OXIG)