Spectris Completes Acquisition of Philips Analytical
September 30, 2002
Spectris plc, a precision instrumentation and controls company, recently completed its acquisition of Philips subsidiary Analytical. PANalytical, as the new daughter company has been renamed, is now 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. It also 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. All staff and the existing management team employed in the X-ray analytical business have been transferred to Spectris.
The company's website is located at http://www.panalytical.com .