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Meggitt sells photo etching group Precision Micro for £22.5m
(WebFG News) - Meggitt has sold photo etching group Precision Micro for £22.5m in cash.
The company, which specialises in high performance components and sub-systems for the aerospace, defence and energy markets, said the disposal is consistent with its strategy to focus on businesses of scale in attractive markets where its leading positions offer greater potential for growth and operational efficiencies.
In the year to the end of December 2017, Precision Micro generated revenue of £15m.