text: In accordance with the terms of IOP purchase, Fulmer's capital investment in new facilities was expected to be financed from profit and Fulmer would make a modest annual contribution to IOP funds.
  However, Fulmer's recent expansion and its large investment in capital equipment required increasing bank borrowing. Considerable management effort and other resources had been taken up with the transfer of facilities between Fulmer, Chessington, Ashtead, Redhill and Slough and there had been a damaging fire at Ashtead.
  It was clear that alternative sources of finance were needed. A management buyout was explored and found to be not feasible. Preparations were made for a stock exchange flotation but, in the late 1980s Fulmer sustained large losses and plans to float were postponed.
  The balance of Fulmer's activities had changed.  Academic research was now a minor part of its work. Most of its income came from testing, consultancy and small scale manufacture.  The IOP were becoming concerned that their ownership of Fulmer as a commercial organization might be judged incompatible with their charitable status as a learned society.  They were also concerned that Fulmer was making losses and had a growing overdraft. The IOP Council finally decided to sell Fulmer.