(Alliance News) - SAES Getters Spa announced Wednesday that it has signed a binding Share Purchase Agreement for the acquisition of 100 percent of the share capital of FMB Feinwerk- und Meßtechnik GmbH, now owned by majority shareholder Uwe Schneck, minority shareholders Ingmar Lehmann and Jens Rekow, and Mardi Beteiligungs GmbH & Co.

The agreed purchase price is EUR8 million and will be paid by SAES in cash, using its own funds, to the current shareholders of FMB, based on their respective stakes, on the closing date, scheduled for the end of May.

FMB Berlin, based in Berlin, has been in business since 1990 and is an established international player in scientific components and instrumentation for synchrotrons and particle accelerators.

The scope of the acquisition does not include the British subsidiary FMB Oxford Limited, now wholly owned by FMB Berlin, whose business is not considered strategic to SAES.

"The objective of the acquisition is to strengthen SAES's international position and leadership in the advanced scientific research market by expanding in the European and global arena the offer of vacuum systems used in particle accelerators and synchrotrons," the company explained in a note.

SAES Getters on Wednesday closed in the green by 0.4 percent at EUR38.35 per share.

By Claudia Cavaliere, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.