Qioptiq Divesting Polymer Molding Unit
PARIS, March 7, 2011 — Qioptiq SAS has begun procedures to divest its molding unit of Qioptiq Polymer Inc. in La Verne, Calif., to concentrate on its core optical and photonics business.
Qioptiq Polymer’s injection molding business assets will be sold to the current management. The transaction, which is subject to the customary completion of necessary agreements and approvals, is expected to close by the end of the month.
The new venture, which will conduct business as Diverse Optics Inc., will remain at the La Verne facility. The molding business will continue to operate with no interruptions. Erik Fleming will become its president.
Besides the divestiture, the company announced that diamond-turning machines from its California facility will be transferred to its Rochester site. The transfer will help it to better serve its US defense customers.
Qioptiq designs and manufactures photonic products and solutions for a range of applications in the medical and life sciences, industrial manufacturing, defense and aerospace, and research and development markets.
For more information, visit: www.qioptiq.com