26 Jul 2007 07:01
Oxford Instruments PLC26 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 systemscompany, announces today that it has received irrevocable acceptances for 81.4%of the issued share capital of WAS, a leading German manufacturer andinternational supplier of Arc/Spark optical emission instrumentation used toanalyse the chemical properties of metals. The acquisition has the full support of the WAS Board and an offer for theremaining minority shares has been made A maximum consideration of £9.3m will bepayable in cash if 100% of the shares and convertible bonds are acquired. It is expected that the acquisition will have a positive impact on tradingprofit in its first year. In the year to 31 December 2006, WAS reported turnover of £5.7m and a tradingprofit of £0.4m. The gross assets acquired in the transaction total £3.3m. WAS' technology and expertise in mobile, portable and stationary opticalemission spectrometry (OES) will significantly strengthen and complement OxfordInstruments Industrial Analysis' existing product range of industrialspectrometers. The OES technique is particularly suited for the identificationof elements such as Carbon, Sulfur, Phosphorous and Nitrogen in metals inamongst others, the steel industry. Inspection companies use OES for maintenancework at petrochemical and nuclear plants where use of the correct metal alloy isvital. Customers in the aviation, oil refining and recycling industries will nowhave a greater choice of high performance tools to meet their demanding qualitycontrol 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 theCompany 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 toour customers and to grow our share of the Optical Emission market. We aredelighted that WAS will be joining us, and look forward to working with them todeliver an enhanced service to our customers.'' Vito Angona, Managing Director of WAS, is joining the OIIA Board. ''We aredelighted to be part of Oxford Instruments" he said, "and look forward toplaying a significant role in the next stage of business growth." - Ends - Enquiries: Oxford Instruments plc Tel: 01865 393 200Jonathan Flint Chief ExecutiveKevin Boyd Group Finance Director Hogarth Partnership Limited Tel: 020 7357 9477Rachel HirstAndrew JaquesIan 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 solutionsneeded to advance fundamental nanoscience research and its transfer intocommercial nanotechnology applications. Innovation has been the driving forcebehind Oxford Instruments' growth and success for over 40 years, and itsstrategy is to effect the successful commercialisation of these ideas bybringing them to market in a timely and customer-focused fashion. The first technology business to be spun out from Oxford University over fortyyears ago, Oxford Instruments is now a global company with over 1,300 staffworldwide and a listing on the London Stock Exchange (OXIG). Its objective is tobe the leading provider of new generation tools and systems for the PhysicalScience and Bioscience sectors. This involves the combination of core technologies in areas such as lowtemperature and high magnetic field environments, Nuclear Magnetic Resonance,X-ray electron and optical based metrology, and advanced growth, deposition andetching. Our products, expertise, and ideas address global issues such asenergy, environment, terrorism and health and are part of the next generation oftelecommunications, energy products, environmental measures, security devices,drug discovery and medical advances. WAS AG is a leading German manufacturer and international supplier of Arc/Sparkoptical emission spectrometers and preparatory equipment used to analyse thechemical properties of metals. The product range covers mobile, portable andstationary emission spectrometers for laboratory and industrial applications. At its headquarters and production facility in Uedem, 67 employees manufacturemore than 450 systems per year. Highly skilled engineers and specialists provideafter sales service and support for customers and partners worldwide WAS AG is active in more than 40 countries. Since breaking into the market in1999 more than 2000 spectrometer systems have been installed. The worldwidedistribution and subsequent investments in new technologies resulted in anannual growth of 25%. In just a few years, WAS AG has managed to establish itself as a leadingsupplier of spectrometers. This success is primarily due to the emphasis of theCompany's philosophy of "distinction by innovation" and the reputation of beinga problem solver. This information is provided by RNS The company news service from the London Stock Exchange