9 March 2022 - disposal
The AIM-listed engineering group has announce the sale of its Machine Tools business for cash consideration of US$21m. This will complete the restructuring of the group as it looks to focus on its Industrial Laser Systems Division. The latter business is thought to have better growth prospects and higher margins and although it operates in a fragmented market this in itself should present interesting opportunities, The disposal of the machine Tools operations will generate sufficient funds to eliminate its debts and provide the funds to expand the Laser Systems Business. Clearly, it will take . . .
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