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news release:
Restructuring of Oxford
Instruments' UK Superconductivity businesses
Tubney Woods, England, Apr.
3: Oxford Instruments plc (LSE:
OXIG) announced the creation of Oxford Instruments NanoScience and its
intention to discontinue general volume production of undifferentiated low field
magnets for OEM customers. (In depth coverage in
Superconductor
Week, vol 20, no 3)
In the UK, Oxford Instruments' Superconductivity Segment currently consists of
two businesses: the Physical Science business based at Tubney Woods in
Oxfordshire, providing specialist magnet and cryogenic systems directly to end
user customers in the applied research field; and the Magnet Technology business
based at Eynsham in Oxfordshire, manufacturing NMR and ICR magnet systems for
original equipment manufacturers (OEMs) to incorporate in the systems they
supply to their end user customers.
Whilst the Physical Science business continues to maintain a very strong
position in its market, the Magnet Technology business has been suffering from a
decline in the demand from its OEM customers for undifferentiated low field
magnets. The markets for Oxford Instruments' technically demanding, high field
NMR magnets and the newly emerging DNP-NMR magnet systems continue to provide
growth opportunities.
In order to respond to these changed market circumstances, it is now proposed to
discontinue general volume production of undifferentiated low field magnets for
OEM customers after completing all existing commitments. This creates an
opportunity to merge the high technology, high field NMR magnet products, and
their associated R&D and engineering, with the growing Physical Science
business. In addition, it will be possible to reshape the business, address the
overall cost base and give a secure platform from which to grow.
At the end of March 2006, it is proposed to consolidate all the UK magnet and
cryogenic expertise and resources at the Tubney Woods site, and to form a new
business - Oxford Instruments NanoScience.
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