Disposal

RNS Number : 0362E

Oxford Instruments PLC

23 September 2008

 

Embargoed until 23rd September 2008

Oxford Instruments plc

Disposal of Molecular Beam Epitaxy (MBE) business 

Oxford Instruments plc, the high technology tools and systems company, announces that the Molecular Beam Epitaxy (MBE) service and support business currently owned by Oxford Instruments Plasma Technology Ltd (OIPT), has been sold to RIBER SA. 

The consideration is a cash payment of €450k, and a cash earn-out of up to €400k payable over three years against spares sales. 

OIPT has an aggressive product development plan in place to enhance existing product lines, expand into new markets and grow its portfolio of new products in development. As a result, OIPT has seen significant growth in a number of markets in the last 12 months and the transfer of the non-core MBE business will allow it to focus more sharply on these areas. This is consistent with Oxford Instruments' strategy to double its overall size and increase return on sales by ten percentage points. . 

RIBER, based in Bezons, France, is a world leader in providing MBE equipment and components to public and private major research centres and industrial foundry companies. OIPT is confident that RIBER will continue to offer the level of support required by its MBE customers and that RIBER's extensive support structure will ensure customers continue to receive a world class service.

Enquiries:

Oxford Instruments plc                                                                                Tel: [phone]          

Jonathan Flint        Chief Executive  

Kevin Boyd            Group Finance Director

Hogarth Partnership                                                                                     Tel: [phone]

Rachel Hirst

Andrew Jaques

Ian 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 solutions needed to advance fundamental nanoscience research and its transfer into commercial nanotechnology applications. Innovation has been the driving force behind Oxford Instruments' growth and success for over 40 years, and its strategy is to effect the successful commercialisation of these ideas by bringing them to market in a timely and customer-focused fashion. 

The first technology business to be spun out from Oxford University over forty years ago, Oxford Instruments is now a global company with over 1500 staff worldwide and a listing on the London Stock Exchange (OXIG). Its objective is to be the leading provider of new generation tools and systems for the Physical Science and Bioscience sectors.

This involves the combination of core technologies in areas such as low temperature and high magnetic field environments, Nuclear Magnetic Resonance, X-ray electron and optical based metrology, and advanced growth, deposition and etching. Our products, expertise, and ideas address global issues such as energy, environment, terrorism and health and are part of the next generation of telecommunications, energy products, environmental measures, security devices, drug discovery and medical advances.

 

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