Heraeus Noblelight Group Acquires Fusion UV
Spectris plc has signed an agreement to sell its Fusion UV business group to Heraeus Noblelight, a unit of Heraeus Holding GmbH, for $172 million.
Spectris, a testing and control equipment maker, will use the post-tax proceeds to pay down debt. The company said the sale is expected to hurt earnings by about 5 pence per share (about 8 cents) in 2013.
Fusion UV, of Gaithersburg, Md., provides microwave-based ultraviolet curing systems and technology. Operating profits from the business were about $13 million in 2011. The book value of its tangible gross assets was about $27 million as of June 30, 2012.
The acquisition will combine complementary technology portfolios to offer new areas of applications for UV light production, said Rainer Küchler, managing director of precious metal and technology group Heraeus Noblelight. The combination also will yield broad market coverage with direct access to key industrial markets in the US, Europe and Asia.
The closing is expected during the first quarter of 2013.
For more information, visit: www.spectris.com or www.heraeus.com
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