E2V Technologies PLC Announces Sale Of Certain Non-Core Businesses

E2V Technologies PLC announced that it has agreed the sale of its non-core businesses, for a total cash consideration of GBP14.7 million, to a newly formed company, SGX Sensortech, backed by Baird Capital Partners. The non-core businesses comprise e2v Scientific Instruments based in High Wycombe, the industrial gas sensing business based at e2v's Chelmsford facility and e2v microsensors SA based in Neuchetel Switzerland. They provide a range of professional sensing products for x-ray spectroscopy and gas sensing for automotive and environmental safety applications. The cash consideration will be used to reduce group indebtedness. The sale of e2v Scientific Instruments and e2v microsensors SA has completed today. The completion of the sale of the industrial gas sensing business based at e2v's Chelmsford facility is deferred for up to 12 months, deferring receipt of GBP0.7 million of the total cash consideration which is held in escrow.