Agilent Exits OEM and Specialty Magnets Business

Agilent told IBO that the business manufactures magnets ranging in strength from 0.3 T to 9.4 T for OEM customers, as well as designs customized magnets. Agilent stated that the exit is driven by plans to focus on its NMR and pre-clinical MRI businesses. The NMR business is expected to be breakeven by the end of 2014.

New York, NY 3/7/13—At its annual investors meeting, Agilent Technologies announced that it will exit its OEM and Specialty magnets business. The business, which it had acquired when it bought Varian (see IBO 7/31/09), makes super high-end magnets for research and other applications. Nick Roelofs, president of Agilent’s Life Sciences Group, told the conference, “This business is fundamentally too custom and too volatile to really keep in the portfolio.” He noted that the divestment will also help the Life Sciences Group return to a 20% operating margin. Customers have been informed, and the business has ceased taking new orders.

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