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Article: Technology firm bought for pounds2m A torquay technology business has been sold for pounds2million.
- Article from:
- Herald Express (Torquay UK)
- Article date:
- August 11, 2007
CopyrightCopyright 2007 Herald Express (Torquay UK). Provided by ProQuest LLC. (Hide copyright information)
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A torquay technology business has been sold for pounds2million.
Sifam Instruments Ltd, which is based on Woodlands Road, was sold
to specialist electrical company Elektron on Thursday.
It comes just months after the now unrelated Sifam Fibre Optics
business in Broomhill Way was sold for pounds5 million.
Sifam Instruments specialises in designing and manufacturing
precision meters, sensors and electrical measuring systems among
other items. It employs 180 people and had sales of pounds8.4 million
in 2006.
The day after the sale the new owners sold the Torquay factories
on a leaseback agreement for more than pounds2,300,000.
Bosses at Sifam say the sale of the business will mean they can ...