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FEI Company (Nasdaq:FEIC), a leading provider of high-resolution imaging and analysis systems, today announced that it had acquired substantially all of the assets of Intellection Holdings Pty. Ltd. of Brisbane, Australia. Intellection's primary product is the QEMSCAN automated mineralogy system. The purchase increases FEI's presence in the automated mineralogy market for global mining companies and continues the company's strategic drive to produce innovative application-specific solutions for its customers. The purchase price was approximately $2.8 million.
"Intellection has provided high value to its customers," noted Dr. Paul Scagnetti, vice president and general manager of FEI's Industry market division, "and we look forward to continuing to improve automated mineralogy technology with the key talent at Intellection. Customers are beginning to deploy automated mineralogy in a wider range of minerals and expand from the lab to the mine site. This purchase also increases our installed base in a strategically important market for FEI's future."
FEI's existing Mineral Liberation Analyzers (MLA) are complete microscopy solutions designed to increase mining productivity and metal recovery and are the result of a joint development effort between FEI Company and JKTech, a leader in the international minerals industry.
Automated mineralogy systems identify minerals in polished sections of drill core, particulate, or lump materials and quantify a wide range of characteristics, such as mineral abundance, grain size, and liberation. Mineral texture and liberation potential are fundamental properties of ore and drive its economic treatment, making the data gathered by the MLA and QEMSCAN invaluable to geologists, mineralogists and metallurgists who engage in process optimization, mine feasibility studies and ore characterization analyses.
About FEI Company
FEI (Nasdaq:FEIC) is the world leader in pioneering technologies and applications that deliver imaging solutions for 3D characterization, analysis and modification/prototyping with resolutions down to the sub-Ångström level. Our customers, working in advanced research and manufacturing, are supported by field-experienced applications specialists. They have open access to FEI’s prestigious global user network so they can succeed in accelerating nanoscale discovery and contribute to better living through new product commercialization. FEI’s NanoPorts in North America, Europe and Asia provide centers of technical excellence where our world-class community of customers and specialists collaborate on the ongoing development of new ideas and innovative solutions. FEI has sales and service operations in more than 50 countries around the world.
FEI Safe Harbor Statement
This press release contains forward-looking statements about the purchase of assets of Intellection Holdings Pty. Ltd, related technological improvements and customer utilization of this technology. Factors that could affect these forward-looking statements include, but are not limited to, difficulties in integrating the Intellection assets with FEI’s existing business, changes in customer demands, needs and preferences, fluctuations in mineral commodity prices, and fluctuations in the US dollar relative to the Australian dollar. Please also refer to the company's Form 10-K, Forms 10-Q, Forms 8-K and other filings with the U.S. Securities and Exchange Commission for additional information on these factors and other factors that could cause actual results to differ materially from the forward-looking statements. FEI assumes no duty to update any forward-looking statements.
The FEI logo is a trademark of FEI Company.
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MindWrite Communications, Inc
Sandy Fewkes, Principal (Media), +1-408-224-4024
(investors and analysts)
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