Philips Analytical Becomes Part of Spectris
– Surrey, UK and Amsterdam, The Netherlands-Royal Philips Electronics has agreed to sell its Philips Analytical x-ray analytical business to precision instrument company Spectris plc for 150 million ($151.8 million = 0.99= $1) in cash. Philips Analytical makes and sells x-ray diffraction (XRD) and x-ray fluorescence (XRF)systems. In 2001, Philips posted 159 million in revenues, according to the company. The company will be renamed PANalytical and join Spectris’ Process Technology division. The x-ray business’s employees and management will join Spectris. Spectris stated that the acquisition will supply it with a niche business with high margin products for industrial and laboratory application. Philips stated that the sale was in line with its plans to focus its business and is one of 27 divestments it will undertake. Philips Analytical’s opto-acoustic and ellipsometry products were not included in the transaction. Philips announced it will discountinue its semiconductor ellipsometry product line and is considering the transfer of it to a third party.