Newport Buys Corning OCA'sCommercial Optics Operation
IRVINE, Calif., Oct. 25 -- Newport Corp. has acquired the commercial optics operation of Corning Inc. subsidiary Corning OCA Inc. The company expects the cash transaction to accrete to earnings immediately.
Based in Garden Grove, Calif., Corning OCA's commercial operation manufactures high-performance precision optical products and systems, specializing in opto-mechanical subassemblies as well as thin-film technology and coatings. The company expects pro forma sales for 1999 to total approximately $10 million. These operations, which are synergistic with our existing optics business, bring important capabilities to Newport that have application across a variety of industries, especially our targeted growth markets, and will take us to a new level of capability in the design and manufacturing of high performance optical elements and systems, said Robert G. Deuster, president and CEO of Newport.
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