Spectris (SXS) expects to complete the sale of its BTG business to German outfit Voith GmbH & Co for €319m (£283m) at the start of December, as the supplier of productivity-enhancing instruments and controls continues with a bid to slim down and specialise that will also see it capture benefits of up to £20m in a profit improvement programme this year.
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Over the period between July and October, Spectris’s Malvern Panalytical and HBK businesses attained low single-digit like-for-like growth. Its Omega business, which supplies sensing products, was hit by the US-China trade war, and experienced a 7 per cent decline over the period.
The BTG sale is expected to hit full-year 2019 sales and adjusted operating profits by £13m and £4m, respectively.
