Gerber Technology not for sale
Gerber Scientific has responded to an article published on July 2 speculating that the firm might be considering selling its Gerber Technology business unit.
In a press release dated June 26, the Gerber Scientific said that it was considering several assets sales that, collectively, could generate proceeds of up to $20 million. Then, during its quarterly earnings conference call, it explained that the assets being considered for sale were non-core, non-strategic and/or underperforming assets.
Gerber Scientific operates three strategic business segments: apparel and flexible materials, sign-making and specialty graphics, and ophthalmic lens processing. Gerber Technology is the major (core) asset within the apparel and flexible materials segment.
Marc Giles, Gerber Scientific president and CEO, said: “As a matter of policy, we do not discuss potential transactions until they are consummated, but wanted to set the record straight that our Gerber Technology business unit, which is a key business unit for us, is not being considered for sale.”
