ALBUQUERQUE, N.M., 5 May 2007. CVI has signed an agreement with Barloworld Scientific Ltd. to acquire Melles Griot. The terms of the transaction have not been disclosed, but it is expected to close by the end of May.
The acquisition brings together two leaders in optical and laser technology. With worldwide manufacturing and distribution in Asia, Europe, and North America, the new company will be uniquely positioned to take a significant leadership position supplying optical components, lasers, and opto-mechanical assemblies.
Stuart Schoenmann, CEO of CVI, states, "We are extremely excited about the opportunities this acquisition creates for our customers, employees and shareholders. The Melles Griot acquisition is a significant component of CVI's plan to expand our capabilities and manufacturing capacity to meet worldwide demand.
"CVI's overall acquisition strategy is to expand product lines, to increase manufacturing capabilities, and to address growing market opportunities. The Melles Griot acquisition will enable CVI to meet customer demand for high volume laser and optics production along with complex optics and assemblies."
"Melles Griot is eager to become a strategic part of CVI," says Blake Fennell, CEO of Melles Griot. "CVI has a strong world-wide brand, manufacturing, distribution network and access to capital. This is a great opportunity for the Melles Griot team to focus on photonic technologies within a company dedicated to the industry."
