MDL sells 29% stake to Renishaw
Donnerstag, 29 Juli 2010
York-based Measurement Devices Ltd (MDL) has sold a 29% shareholding in the company to Gloucestershire-based Renishaw in a £2.3 million deal to help fund its expansion in the global eye-safe laser measurement technology sector.
The remaining shares in the laser measurement technology company will be sold to Renishaw, a global measurement and healthcare products manufacturer, over the next four years.
MDL is a global pioneer in manufacturing laser-based measurement systems used in quarrying, marine positioning, aviation, civil engineering and traffic control.
MDL Group chairman Steve Ball said: "The similarities between MDL and Renishaw are amazing. The main difference being that Renishaw measures small things and we measure large things.
"With Renishaw's support and investment, MDL will accelerate its drive to become a world-class company benefiting all our stakeholders and customers."
Renishaw, which has a £181.6 million turnover, has 1,358 employees in the UK and 741 overseas.
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