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Business
Business
Sensor firm targets US and Europe acquisitions
by Alex Mayhew-Smith
Wednesday 7 December 2005

E2v Technologies has taken on advisors in the US and in Europe to help pin-point possible acquisition targets, according to the company’s CEO Keith Attwood.

Attwood said although US companies are particularly attractive for the firm, it is looking at other locations. E2v made its first acquisition as a listed company earlier this year, when it acquired Gresham Scientific Instruments.

The firm has also reported interim results, with turnover of £49.1m, compared to £47.2m a year earlier, and profit before tax of £2m, against £1.1m previously.


Attwood: Outlook is positive

“It is steady growth. The outlook is very positive,” said Attwood. However, a “breather” in the phasing of military and aerospace contracts in the sensors division of the company led to a 17.4 per cent fall in sales for that business to £7.1m.

“It is to do with the phasing of contracts that have already been won. It is a lumpy business but we are relaxed because our order book is up. In the first half there were three big contracts and we anticipate a few more in the coming weeks,” said Attwood.

Other contracts expected soon are related to the international linear collider project, due to be announced in the next few months. Although the firm is not counting the project with its forecasts, it could be a big boost for the company if it wins some work for the project.

Attwood described a voluntary redundancy scheme at the firm as “good housekeeping” and said the cost of power and materials requires a response in the shape of efficiencies at the firm, which manufactures in the UK.

www.e2v.com