GEC Sells Marconi Instruments
06 February 1998
The General Electric Company, p.l.c. today announced the sale of Marconi
Instruments to US electronic test instrumentation manufacturer, IFR Systems Inc,
for £65 million paid in cash on completion.
The sale includes UK-based Marconi Instruments Limited and its subsidiaries
in France, Spain and Germany, as well as Marconi Instruments Inc in the US.
Marconi Instruments designs, manufactures and distributes electronic test
and measurement systems and equipment and is headquartered in Stevenage.
Marconi Instruments achieved sales of £65.9 million and profit before
tax of £4.5 million in the year to 31 March 1997. Net assets of Marconi
Instruments at 30 September 1997 were £26.8 million.