TRW to Purchase Laser Firm

TRW Inc. of Cleveland has announced that it will purchase Cutting Edge Optronics Inc. and its laser diode operation in Industrial Microphotonics Co., both in St. Charles, Mo., for $19 million in cash and the assumption of $5 million in debt. Under terms of the agreement, Cutting Edge would become a wholly owned subsidiary of TRW and remain headquartered at its current facility.

TRW said the deal will expand its line of extreme-ultraviolet light sources for semiconductor lithography. Cutting Edge's product line of solid-state and semiconductor lasers will remain unchanged, and the company said its customers and vendors will continue to work with the same staff.