Oxford Instruments offloads stake in Scienta Omicron joint venture

High technology industrial and scientific products provider Oxford Instruments has sold its 47% share in Scienta Omicron to a group of existing shareholders in the joint venture, for a consideration of SEK 147m (£11.7m).

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The FTSE 250 company said the joint venture was established in 2015, and consisted of its Omicron Nanotechnology subsidiary and GDI's Scienta Scientific, creating a “leading company” in ultra high vacuum surface science.

“The sale of our share in Scienta Omicron supports our continued customer-centric focus on our chosen markets with long-term growth drivers where we can maintain or develop leading positions, enhancing our ability to deliver further growth and margin improvement,” said chief executive officer Ian Barkshire.

At 0922 GMT, shares in Oxford Instruments were up 0.52% at 1,546p.