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Strix in £190 million flotation

One of the Island's best-known engineering companies is to float on the stock market.

Strix, based in Ballasalla, designs and manufactures kettle safety controls - accounting for almost 40 per cent of the world market.

The company says it wants to float on the Alternative Investment Market to raise around £190 million.

Chief executive Mark Bartlett says admission to the market will take place on August 8, and will allow the business to expand in its existing and new markets.

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