Spectris completes sale of Fusion UV

Productivity-enhancing instrumentation company Spectris has completed the sale of its Fusion UV business to Heraeus Holding GmbH for a total cash consideration of 172m dollars, the post-tax proceeds of which will be used to pay down debt.

The sale is expected to be somewhat dilutive to earnings per share in 2013 and the impact on earnings per share is expected to be approximately five pence.

Fusion UV is a provider of industrial ultraviolet curing systems and technology worldwide. The company's core competency is in the area of microwave powered, electrode-less lamp technology to generate intense UV energy that is used for UV curing.

The sale was completed after the close of business on January 31st.