Microfilm bureau Microgen Holdings Plc has sold Capella Technik, its loss-making Scandinavian computer output microfilm recorder distributor business to an undisclosed international industry supplier for UKP1.4m. The division, a part of Swedish subsidiary Capella AB, turned in pre-tax losses of UKP60,000 on sales of UKP3.1m for the year to September 30. Microgen says the business was peripheral to the group’s core activities. The purchaser is taking responsibility for the contracts of the 28 employees involved and for the leased premises. The consideration, equivalent to $2.5m, is payable as $1m in cash on completion and the balance by way of credits to be used to buy microfilm equipment and consumables to be used in Capella’s business.
