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Qioptiq Group Completes Sale of Coatings Business

Published on 2008-11-17. Author : SpecialChem

PLYMOUTH, UK -- Leading international designer and manufacturer of optical solutions, Qioptiq, announced that it had completed the sale of its Plymouth, UK coatings business.

In a management buyout, the team, led by Ian Moyes, has agreed to purchase the business from Qioptiq SAS for an undisclosed amount.

The new company, to be known as Artemis Optical Ltd will continue to provide advanced optical coatings at the Plymouth facility. Qioptiq CEO, Benoit Bazire commenting on the completion said: "We are pleased to have reached agreement to sell this company to the former Qioptiq Coatings management team. As a specialized coating company serving the optical industry we are certain that Artemis Optical will continue to satisfy their many customers, including Qioptiq."

Ian Moyes, the new Chairman of Artemis Optical stated "The management team is delighted to have this opportunity to guide Artemis Optical in realising its full potential. The business agility offered by independence will allow us to succeed at new levels, whilst still satisfying our current customer base."

About Qioptiq:

The Qioptiq Group is a leading international organisation of world-leading optics companies with locations throughout Europe, Asia and the USA. The Group has an enviable reputation spanning over 100 years for providing advanced optical systems, equipment, modules and components for a diverse range of civilian and defence applications. Qioptiq's manufacturing operations offer some of the most advanced capabilities in optical system and module design, build and manufacture. This capability extends from complex optical components to complete turnkey optomechanical solutions in visible, infrared and ultraviolet wavebands. The Qioptiq Group employs over 2,500 people and generated revenues of US$360 million in 2007.

About Artemis Optical:

Artemis Optical is a provider of specialized coatings for the optical industry. Located in Plymouth, England, the company serves customers from around the world.

Source: Qioptiq

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