Search Menu
Photonics Media Photonics Buyers' Guide Photonics EDU Photonics Spectra BioPhotonics EuroPhotonics Industrial Photonics Photonics Showcase Photonics ProdSpec Photonics Handbook
More News
Email Facebook Twitter Google+ LinkedIn Comments

  • Virtek Completes Purchase of Templating Business
Dec 1999
WATERLOO, Ontario, Canada, Dec. 7 -- Laser projection technology developer Virtek Vision International Inc. has finalized the purchase of GSI Lumonics Inc.'s Aerospace Templating business. The final terms of the agreement call for Virtek to pay $3.5 million (Canadian) to acquire the business's operating assets. In addition, Virtek will pay GSI Lumonics a ten-percent royalty for the next three years on all sales of ply lay-up templating products made to the aerospace industry. GSI Lumonics has agreed not to compete in the ply lay-up templating market for a period of six years.
Commenting on the acquisition, Jim Crocker, Virtek's president and CEO, said, We believe this transaction will add an average of $4 million to our aerospace templating business in each of the next five years. He continued, Our core templating business is the engine that will fuel our imaging business as we continue to enter new market opportunities. This acquisition serves to make this engine stronger.

Terms & Conditions Privacy Policy About Us Contact Us
back to top

Facebook Twitter Instagram LinkedIn YouTube RSS
©2016 Photonics Media
x We deliver – right to your inbox. Subscribe FREE to our newsletters.