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Posted: February 21, 2008
Analytical Nano Buys Newton Instrument for GBP247,000
(Nanowerk News) Analytical NanoTechnologies PLC (ANTnano) said it has acquired Newton Instrument Co Ltd for GBP247,000 (approx. $480,000), of which GBP220,000 is payable in cash in instalments over three months, and the rest in shares.
The nanotechnology air-monitoring equipment manufacturer said Newton Instrument, the air sampler manufacturing division of the Newton Industrial Group Ltd made profits of GBP45,486 on turnover of GBP175,170 for 2007.
ANTnano, which recently announced its attention to list on London's Alternative Investment Market, will take over the manufacturing of Newton's main product, the Newton Galley Sampler - the industry standard machine for high volume air sampling with over 600 installations worldwide.
Allan Syms, chief executive of ANTnano said: "Firstly, there will be sales of existing machines; secondly, machine servicing and sales of consumables to the installed user base; and, thirdly sales of our new generation of equipment to the customer base."
ANTnano added it will appoint Newton's current managing director, John Haworth to its board as a non-executive director.