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Bruker BioSpin buys Superconductor Business. (Executive briefing: news, trends & market intelligence for instrument executives).

Windsor, UK 4/30/03 and Rheinstetten, Germany 5/21/03 -- Bruker BioSpin GmbH has signed an agreement to acquire the Superconductor Business of Vacuumschmeize GmbH & Co. KG, which is owned by Morgan Crucible Company. Bruker BioSpin's newly formed subsidiary, Advanced SuperConductors Project Hanau GmbH & Co. KG, will acquire the business on a debt-free, cash-free basis for 28.0 million [euro] (19.4 million [pounds sterling], or $31.0 million = 1.10 [euro] = $1) in cash. In 2002, the business recorded sales of 0.6 million [euro], with assets valued at 20.4 million [euro] as of the beginning of the year and an annual operating profit of 2.7 million [euro]. Based in Hanau, Germany, the Superconductor Business develops and manufactures high-temperature superconductors and low-temperature superconducting wire for superconducting magnets for MRI, NMR spectroscopy and other products. Bruker BioSpin stated that the acquisition ensures a supply of superconducting wires for its magnets and creates growth opportunities as a supplier of superconducting wires and high-temperature superconductors to new markets.

Morgan Crucible will also receive 10% of higher temperature superconducting product sales for each year until 2011, or until a maximum amount of 20 million [euro] is reached. Bruker BioSpin was a customer of the company as well as of other suppliers. Because of the fact that the magnetic resonance business is so concentrated, its backward vertical integration strategy seems quite appropriate. In recent years, the number of vendors in the field have acquired probe technology for many of the same reasons. New markets for high-temp superconductors include magnetic levitation, energy storage, fast electronics and ultra-high field magnets.
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Publication:Instrument Business Outlook
Article Type:Brief Article
Geographic Code:4EUGE
Date:May 31, 2003
Words:267
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