skip to content

Bids, Mergers and Takeovers

MGAM agrees sale of UK Electro-Ceramics business

22 February 2017 07:38

Morgan Advanced Materials has agreed the sale of its UK Electro-Ceramics business to CeramTec UK Ltd, a subsidiary of CeramTec GmbH.

The transaction is structured as a sale of the business, assets and goodwill for a consideration of £47m on a cash-free, debt-free basis, payable in cash at completion.

The Uk Electro-Ceramics business comprised two sites at Ruabon and Southampton.

"The divestment is in line with Morgan's strategy to simplify its portfolio and focus on global technology businesses of scale," the company said.

Proceeds would be used for re-investment in the core business.

The UK Electro-Ceramics business produces a range of piezo and dielectric ceramic products used in a wide range of industrial, electronics, medical and defence applications.

Story provided by StockMarketWire.com

Related Company: MGAM

Info Point:

To buy or sell shares call our Dealing Room on 0113 243 6941.

Too much jargon? Our glossary will help make sense of things.

Find out more about our Share Dealing Services.

Client Area Access

» Secure Login

» Not registered yet?

-

Branch Finder

Redmayne-Bentley have High Street branches throughout the UK. Find your nearest branch.