25th Sep 2018 13:00
LONDON (Alliance News) - Scientific Digital Imaging PLC said Tuesday it has acquired water purification products and vacuum ovens manufacturer Fistreem International Ltd for GBP756,000.
Scientific Digital, which is focused on design and manufacture of scientific products, said the acquisition is in line with the company's strategy of acquiring complementary businesses.
"The acquisition is in line with our previously announced acquisition strategy and is expected to be earnings enhancing in its first full year of ownership," Chairman Ken Ford said.
For the year ended August 31, 2017, Fistreem achieved pretax profit of GBP221,000 and revenue of GBP645,000.
Shares in Scientific Digital Imaging were down 0.6% at 41.0 pence each on Tuesday afternoon.
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