Bruker Restructures CAM Business
The CAM Division was created through the acquisition of Varian’s former GC and ICP-MS businesses, which Agilent divested after it purchased Varian (see IBO 3/15/10). The company’s difficulties in the single-quadrupole GC and ICP-MS markets in the face of intense competition and entrenched competitors is not a surprise.
Washington, DC 7/23/14—Bruker has announced in an SEC filing that it plans to divest certain assets of its Chemical & Applied Markets Division (CAM) and restructure the unit. In 2013, CAM had revenues of $100 million. Bruker stated that it plans to divest or restructure CAM’s GC product lines, including its single-quadrupole GC and GC/MS products, and ICP-MS products. The company will retain CAM’s triple-quadrupole GC/MS and LC/MS product lines. The restructuring is expected to reduce CAM’s annual revenue by $50–$79 million and improve profitability by $15–$20 million annually. CAM headcount is expected to be reduced by 200–250 people and result in a one-time restructuring charge of $35–$40 million.
