Acquisition

Oxford Instruments PLC 29 October 2001 29 October 2001 For immediate release Oxford Instruments plc adds to its Analytical business Oxford Instruments plc, the advanced instrumentation company, announces today that its wholly owned subsidiary, Oxford Instruments Measurement Systems LLC has acquired substantially all the assets of CMI International (CMI). Excluding acquisition costs, the total consideration payable for the assets of CMI will be $2.15 million in cash. The management accounts of CMI for the 9 months to 30th September 2001 show an operating profit close to break even on a turnover of $9 million. Net assets acquired at completion are estimated to be $2.3 million. The acquisition is expected to be earnings enhancing in 2002/ 03. CMI, a privately owned company established over 15 years ago and based in Chicago, is the market leader in the USA for the design, manufacture, sale and service of instruments for the accurate measurement of thin metallic coatings. The main industries served include electronic components, automotive, metal finishing, semiconductor, data storage and vacuum coating. The initial priorities are to increase the depth of management, strengthen internal processes and create a sound base from which to grow the business. This will be achieved with the help of appropriate complementary engineering, manufacturing and distribution strengths in Oxford Instruments. Many of CMI's products are based on X-ray technology, an area where Oxford Instruments is already a leader. Andrew Mackintosh, Chief Executive of Oxford Instruments plc, said: 'CMI is a business we have known for many years which has an outstanding reputation and a leadership position in its market. The acquisition creates for us additional growth opportunities, both in CMI's customer base and for our existing analytical instrumentation business. I am also delighted that Tom Leone, founder of CMI, is staying with the business to participate in its future success.' Enquiries: Oxford Instruments plc 01865 881437 Andrew Mackintosh Martin Lamaison Citigate Dewe Rogerson 020 7638 9571 Patrick Toyne-Sewell Notes to editors Oxford Instruments Oxford Instruments is a global leader in advanced instrumentation. It is a recognised world leader in several technologies, including the application of superconductivity, the creation of low temperatures, the production and detection of X-rays and in neurological measurements. The Company's products are used around the world in healthcare, semiconductor processing, scientific research, industrial chemical analysis and quality control. Its customers include most of the world's major international companies as well as the leading hospitals and research institutes.
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