Halma PLC offloads fibre optic business Fiberguide Industries to Molex for
Chief executive Andrew Williams said the sale will enable the group “to continue to invest in high growth businesses that are closely aligned with our purpose”
() has sold its fibre optic technology business Fiberguide Industries for US$38mln (£28.1mln) in cash.
The FTSE 100-listed company, which originally bought the Idaho-based business in 2008, said the sale was in line with its plan to only own businesses that are “aligned with its purpose”, which has more recently been on “life-saving technology companies” that maintain strong growth and returns over the long term.
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The buyer is , an Illinois-based manufacturer of electronic, electrical and fibre optic connectivity systems, which is buying the business on a cash and debt free basis.
In a statement, Halma chief executive Andrew Williams said: “We are pleased to have found a new home for Fiberguide.”
He added that the sale will enable Halma “to continue to invest in high growth businesses that are closely aligned with our purpose”.
Read More: Halma PLC offloads fibre optic business Fiberguide Industries to Molex for