Oxford Instruments Divests Austin
Six-month revenue for the Austin business declined 51.4%. Oxford noted in its half-year financial report that the business was affected by the bankruptcy of one of its customers, advanced materials firm GACT. Oxford’s total sales declined 5.8% for the half-year period.
Austin, TX 11/23/15; London, UK 11/24/15—Oxford Instruments has sold its Austin division, a supplier of cryo pumps, cold heads and compressor services, to Trillium, US, a supplier of vacuum pump–repair services, and new and refurbished systems. The purchase price was $1.3 million in cash. For the six months ending September 30, Austin’s revenues totaled £1.7 million ($2.6 million = £0.65 = $1), with an operating loss of £0.4 million ($0.6 million). “We acquire a significant range of complementary products while strengthening our existing service capabilities, allowing us to further leverage our customer relationships, while also taking us into new markets,” stated Trillium President and CEO Graham Stone.
