BOC Group acquisition

The BOC Group confirmed on 2 April that it had completed the purchase of the
turbomolecular pump business from Seiko Instruments Inc. (SII“s) for approximately GBP 70 million. As well as the SII tur…

The BOC Group confirmed on 2 April that it had completed the purchase of the turbomolecular pump business from Seiko Instruments Inc. (SII“s) for approximately GBP 70 million. As well as the SII turbomolecular pump business, which has development and production facilities at Narashino in Chiba Prefecture, Japan, the deal includes SII“s 87.5% stake in Societe de Mecanique Magnetique (S2M), the French company that supplies controllers for Seiko“s pumps. Management expects the acquisition to be broadly neutral to BOC Group earnings in current market conditions and increased sales volume would be expected to lead to enhanced earnings.