Gerber to sell laser marking business
06/08/2009
The deal is subject to terms and conditions and regulatory approvals, which Gerber expects will take no longer than a month. While financial terms of the transaction were not disclosed, the company said that the proceeds from the sale would be used to reduce its outstanding debt and for general corporate purposes.
President and chief executive, Marc Giles, said: “We acquired the FOBA business unit as part of our acquisition of Virtek Vision International last year. While FOBA is an attractive laser marking and engraving business, it is not a core strategic focus for us. FOBA is, however, an ideal partner for Videojet Technologies given Videojet’s global reach and scale.”
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