Oxford Instruments Regulatory News (OXIG)

26 Sep 2006 14:30

Oxford Instruments PLC26 September 2006 26 September 2006 Oxford Instruments plc: Chairman's AGM Statement - 2006 Oxford Instruments plc is holding its Annual General Meeting today at which theChairman, Nigel Keen, will make the following statement : "Last year we laid out our strategic agenda and defined our aim to exploit theGroup's technology to become the leading provider of a new generation of toolsand systems for work at the atomic and molecular level in the physical andbioscience sectors. In order to implement this strategy we have, as previouslyannounced, increased our R & D spend. In addition, we have refocused thebusiness towards the commercial realisation of transforming nanoscience into itsapplications. Increasingly, we provide total solutions to end-users anddifferentiate our products by both technical excellence and customer service. We have stepped up our programme of product introductions. The HyperSenseDynamic Nuclear Polarisation product launched earlier in the year has generatedsignificant customer interest. HyperSense has the potential to revolutionisemany analytical applications including the development of new pharmaceuticals.Two other major new products have been introduced in the year together with anumber of upgrades of our existing product line to ensure our products maintaintheir leading positions. Our new commercial approach is also yielding benefits, with significant neworders obtained from customers in Europe, North America and the Far East. Current Trading Order levels and turnover for the year to date are ahead of the company'sexpectations. Following the closure of our undifferentiated NMR Magnet Business,the cost savings predicted in March this year are being realised. The postclosure issues are being resolved and the on-site work needed to meet customerspecification requirements in the bespoke magnet business continues. Despite the impact of unusually adverse dollar movements and the increase in theprice of copper, which have affected us in recent months, the trading results ofthe half-year are expected to be better than at the same point last year, inline with the company's expectations. Oxford Instruments plc Tel: 01865 881437 Fax: 01865 884045Jonathan Flint, Chief ExecutiveKevin Boyd, Group Finance Director Hogarth Partnership Limited Tel: 020 7357 9477 Fax: 020 7357 8533Rachel HirstAndrew JaquesAnthony Arthur 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 This information is provided by RNS The company news service from the London Stock Exchange