28th May 2015 06:54
LONDON (Alliance News) - Tools and systems manufacturer Oxford Instruments PLC on Thursday said it has entered into a joint venture with Sweden-based GD Intressenter AB to make ultra high vacuum surface science products.
The joint venture will involve Oxford's Omicron Nanotechnology GmbH unit and GDI's Scienta Scientific AB. In consideration for new shares issued in Scienta, Oxford has transferred all of its shares in the capital of Omicron to Scienta. This will mean Oxford holds a 47% stake in Scienta, to GDI's 53%.
"This new venture will create the largest player in the exciting field of Surface Science and UHV engineering. Customers will benefit from an enhanced product portfolio and improved service, and the synergies generated by merging the two businesses will provide significant efficiencies and cost savings," said Oxford Chief Executive Jonathan Flint.
By Sam Unsted; [email protected]; @SamUAtAlliance
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