Waters Completes Sale of its Inorganic Mass Spectrometry Product Line
Waters Corporation announced the sale of its inorganic mass spectrometry line of products to GV Instruments Ltd., Manchester, England. Under the terms of the agreement, Waters is selling the assets of the product line, including inventory and accounts receivables, and transferring liabilities such as warranty and deferred revenue in exchange for an undisclosed amount. Shipments of these products in 2002 accounted for approximately $14 million in revenue with roughly break-even profitability. Waters expects to incur a small restructuring charge associated with the transaction. Approximately 65 employees will be transferred from Waters to GV.
The divested product line includes instruments used for the analysis of inorganic materials. Customers using these products are working primarily in the metallurgy, electronics and mining industries. The product portfolio includes inductively coupled plasma (ICP), isotope ratio and custom configured mass spectrometry systems.
GV Instruments is a newly formed company focused on the needs and committed to enhancing the analytical capabilities of inorganic analytical researchers. It is headed by Dr. Tony Williams, a scientist and business professional with more than twenty years of experience in servicing this market segment.
Says Williams, "This exciting new venture allows us to clearly address the unique needs of the inorganic analyst. We have a great team of scientists and engineers on board and we look forward to meeting the needs of our customers in the future."
Quelle: Waters Corp.
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