Almelo, The Netherlands, September 20, 2002 -- Spectris plc, the precision instrumentation and controls company, has completed its acquisition of Philips subsidiary Analytical as announced two months ago. PANalytical as the new daughter company has been renamed, now is the 17th semi-autonomous operating company of Spectris. Its headquarters will remain in Almelo, the Netherlands.
The acquisition is in line with the Spectris strategy to focus on niche businesses with good growth prospects and market-leading positions, supplying high margin products developed using proprietary technology.
Furthermore, it complements the existing instrumentation businesses while enabling Spectris to enter new markets such as materials research and life sciences and to extend its product and service offering in the laboratory sector and in industrial process control. The transfer to Spectris will help PANalytical to exploit the strengths of its business for further growth and expansion into new markets. PANalytical will form part of the Process Technology sector.
All staff and the existing management team employed in the X-ray analytical business have been transferred to Spectris.
For more information, visit www.panalytical.com
Laser Focus World