Halma sells Fibreguide Industries unit for $38m

Halma said it had sold its Fiberguide Industries unit to US electronic, electrical and fibre optic connection systems firm Molex for $38m (£28.1m) on a cash and debt free basis.

The company on Friday said the divestment was is in line with its portfolio management strategy “to ensure it is aligned with its purpose and maintains strong growth and returns over the long term”.

Fiberguide was acquired by Halma in 2008 makes fibre optic technology and is based in Idaho, US.