Oxford Instruments (OXIG)

Sector:

Electronic and Electrical Equipment

Index:

FTSE 250

2,150.00p
   
  • Change Today:
    -25.00p
  • 52 Week High: 2,660.00
  • 52 Week Low: 1,822.00
  • Currency: UK Pounds
  • Shares Issued: 58.04m
  • Volume: 384,116
  • Market Cap: £1,247.85m
  • RiskGrade: 153

Oxford Instruments to sell division to Hitachi High-Technologies

By Josh White

Date: Wednesday 26 Apr 2017

LONDON (ShareCast) - (ShareCast News) - High technology solutions, information and services provider Oxford Instruments announced on Wednesday that it had agreed to sell its Industrial Analysis business to Hitachi High-Technologies Corporation (HHT) for a consideration of £80m on a cash and debt free basis.
The London-listed firm said HHT would acquire the companies, assets and liabilities that comprised the Industrial Analysis business.

Its board described the Industrial Analysis business as a "leading global provider of handheld and bench-top instruments" using x-ray fluorescence (XRF), laser induced breakdown spectroscopy (LIBS) and optical emission spectroscopy (OES) technologies for analysing materials in a broad range of industrial applications.

Headquartered in Oxford, the Industrial Analysis business had research and development and assembly operations in Finland, Germany and China and sales and support operations in a number of countries around the world, the board added.

The transaction remained subject to regulatory approval in Austria, confirmation of receipt by the relevant regulator of the share transfer filing in China, and completion of a pre-sale reorganisation to carve out the relevant businesses.

Assuming satisfaction of those conditions, the transaction was expected to close in the second quarter of the 2018 fiscal year, Oxford's board confirmed.

Proceeds would be used to reduce existing borrowings, and the current Industrial Analysis management team would transfer with the business.

In the financial year to 31 March 2016, the Industrial Analysis business had revenue of £49.5m, adjusted operating profit of £3.3m and normalised business level adjusted EBITDA of £8.2m.

Its gross assets at 30 September 2016 were £35.6m.

"The sale of the Industrial Analysis business follows the continued strategic review of our portfolio and is a key element in the ongoing transformation of Oxford Instruments," said Oxford Instruments chief executive Ian Barkshire.

"I am confident that our Industrial Analysis business can look forward to a bright future as part of Hitachi High-Technologies.

"This transaction creates a more focussed NanoTechnology Tools and Service business with some improvement to operating margin and will bring net debt to EBITDA leverage after completion to below one times on a pro-forma basis for the year ended 31 March 2017."

Toshiyuki Ikeda, senior vice president of Hitachi High-Technologies Corporation, said his company intended to "contribute to society" by strengthening the product range, providing safe and secure solutions for the environmental, food safety and security sectors.

"We look forward to a smooth integration of the business and welcome the employees of Industrial Analysis to HHT."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

OXIG Market Data

Currency UK Pounds
Share Price 2,150.00p
Change Today -25.00p
% Change -1.15 %
52 Week High 2,660.00
52 Week Low 1,822.00
Volume 384,116
Shares Issued 58.04m
Market Cap £1,247.85m
RiskGrade 153

OXIG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
1.72% below the market average1.72% below the market average1.72% below the market average1.72% below the market average1.72% below the market average
2.86% above the sector average2.86% above the sector average2.86% above the sector average2.86% above the sector average2.86% above the sector average
Price Trend
30.50% above the market average30.50% above the market average30.50% above the market average30.50% above the market average30.50% above the market average
72.97% above the sector average72.97% above the sector average72.97% above the sector average72.97% above the sector average72.97% above the sector average
Income
55.02% below the market average55.02% below the market average55.02% below the market average55.02% below the market average55.02% below the market average
62.5% below the sector average62.5% below the sector average62.5% below the sector average62.5% below the sector average62.5% below the sector average
Growth
8.93% below the market average8.93% below the market average8.93% below the market average8.93% below the market average8.93% below the market average
27.27% above the sector average27.27% above the sector average27.27% above the sector average27.27% above the sector average27.27% above the sector average

What The Brokers Say

Strong Buy 3
Buy 4
Neutral 2
Sell 0
Strong Sell 0
Total 9
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

OXIG Dividends

  Latest Previous
  Final Interim
Ex-Div 11-Jul-24 30-Nov-23
Paid 20-Aug-24 12-Jan-24
Amount 15.90p 4.90p

Trades for 31-Oct-2024

Time Volume / Share Price
16:35 74,582 @ 2,150.00p
16:35 320 @ 2,150.00p
16:35 10 @ 2,150.00p
16:35 12 @ 2,150.00p
16:35 369 @ 2,150.00p

OXIG Key Personnel

CEO Richard Tyson

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