Oxford Instruments PLC (LON:OXIG) has fought off competition from around the world to supply its cryogenic and superconducting magnet systems to a renowned Chinese research institute. Multiple systems will be installed at the Institute of Physics-Chinese Academy of Sciences' new facility in Beijing through 2020 and 2021. The technology will allow researchers to test materials at extremely low temperatures and different magnetic field strengths.
Oxford returns to annual profit Oxford, which was spun out from the University of Oxford back in the 60s, has previously supplied several bits of its technology to IOP-CAS's other labs. "This is an excellent example of the growth we are seeing from customers involved in Physical Science Research and Quantum Technologies where our key enabling technologies and advanced solutions enable fundamental research and accelerate our customers applied R&D," said chief executive Ian Barkshire. "We are delighted to be the provider of choice to the renowned Institute of Physics in Beijing. This underlines Oxford Instruments' status as a world leader in state-of-the art technology solutions that create unique environments and enable measurements down to the molecular and atomic level." Shares were unmoved on Friday morning at 1,020p.
Source: Proactive Investors LINK