LONDON (dpa-AFX) - Spectris plc (SXS.L) said that it will sell its NDC Technologies business to Nordson Corp. for $180 million or 130 million pounds.
Spectris noted that it will use the proceeds from the sale of the business to further strengthen its balance sheet and then be deployed in accordance with its capital allocation policy.
NDC designs, develops and produces a range of on-line and off-line process measurement and control instrumentation. The key industries it supplies are food, bulk and tobacco; film extrusion and converting; cable and tubing and energy storage.
The transaction is expected to take place in the fourth quarter of 2021.
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