Oxford Instruments plc, a leading provider of high technology tools and systems for industry and research, today announces that it has completed the disposal of its non-core Austin business for a cash consideration of $1.3 million.

In the six months to September 2015 Austin had revenues of £1.7 million and made an operating loss of £0.4 million.

The business was classified as discontinued and ‘held for sale’ in Oxford Instruments’ Half Year accounts.