Spectris PLC Malvern Instruments and Panalytical to merge

TIDMSXS

Spectris PLC

02 December 2016

SPECTRIS: MALVERN INSTRUMENTS AND PANALYTICAL TO MERGE

2 December 2016 - Spectris plc (SXS: LSE), the productivity-enhancing instrumentation and controls company, announces that effective 1 January 2017, Malvern Instruments ('Malvern') and PANalytical will be merging their activities. Both Malvern and PANalytical are operating companies within the Materials Analysis segment of Spectris.

The companies are both world leading suppliers of analytical instrumentation, PANalytical for X-ray instrumentation and software for the purpose of materials analysis and Malvern Instruments for materials and biophysical characterisation technology. The combined entity is a strong player in the materials characterisation market and will be able to leverage the strengths of the individual companies in their end markets.

The merger is being undertaken as there are clear benefits through this more collaborative relationship, leveraging the very strong brands and highly-skilled employees of the two companies, in order to deliver a more complete range of products, solutions and services to a broader set of markets and customers. This aligns with the Spectris strategy of focusing on the supply of innovative customer solutions, involving the provision of services, software and related activities alongside the supply of equipment.

A new President of the merged operating company, Paolo Carmassi, has been appointed, effective immediately. Paolo brings with him a wealth of experience in global high-technology business management. He was, most recently, Operating Partner at CSTS Healthcare, Ltd., a privately held software business developing artificial intelligence solutions for personalised therapies in oncology. Previously, Paolo spent 23 years with Honeywell Corporation, most recently holding the position of President of the Aerospace business in EMEA.

Peter van Velzen, President of PANalytical, and Paul Walker, President of Malvern, will be retiring, as previously planned.

Eoghan O'Lionaird, Business Group Director responsible for the Materials Analysis segment, says: "This is an exciting time for Malvern and PANalytical. Joining the two companies will enable us to leverage new resources to further grow our service offering and add even more value to our clients and customers. This aligns closely with the Spectris strategy of a shift in emphasis towards the provision of complete solutions to our customers, allowing us to better deliver this to our Malvern and PANalytical customers."

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Contacts:

 
 Spectris plc 
 Siobhán Andrews, Head of 
  Corporate Affairs                 [phone] 
 
 FTI Consulting 
 Richard Mountain / Susanne Yule    [phone] 
 

ABOUT SPECTRIS

Spectris plc is a leading supplier of productivity-enhancing instrumentation and controls. The Company's products and technologies help customers to improve product quality and performance, improve core manufacturing processes, reduce downtime and wastage and reduce time to market. Its global customer base spans a diverse range of end user markets. Spectris operates across four business segments which reflect the applications and industries it serves: Materials Analysis, Test and Measurement, In-line Instrumentation and Industrial Controls. Headquartered in Egham, Surrey, United Kingdom, the Company employs approximately 8,800 people located in more than 30 countries. For more information, visit www.spectris.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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December 02, 2016 04:30 ET (09:30 GMT)