18th Dec 2020 09:33
(Alliance News) - Halma PLC on Friday said it has sold Fiberguide Industries Inc to Molex, a manufacturer of electronic, electrical and fibre optic connectivity systems, for USD38 million.
The FTSE 100 hazard detection and life protection technologies manufacturer acquired US-based fiber optic technology manufacturer Fiberguide in 2008.
On Friday, it said the sale is in line with the company's strategy of managing its portfolio of global businesses to ensure it is aligned with its purpose as well as maintaining strong growth and returns over the long term.
"We are pleased to have found a new home for Fiberguide. Molex, as a manufacturer of fibre optic connectivity systems, has the infrastructure in place to support Fiberguide's future development. We are confident that this will help Fiberguide better serve its customers, employees and suppliers while enabling Halma to continue to invest in high growth businesses that are closely aligned with our purpose," said Halma Chief Executive Andrew Williams.
Shares in Halma were trading 1.7% higher at 2,482.00 pence each on Friday morning in London.
By Ife Taiwo; [email protected]
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