“It is not a core strategic focus for us.”
Gerber Scientific will sell its laser marking and engraving business unit, Foba Technology + Services GmbH, to AllTec Angewandte Laserlicht Technologie GmbH, the laser business unit of Videojet Technologies Inc.
"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,” says Gerber president and CEO, Marc Giles. “Foba is, however, an ideal partner for Videojet Technologies given Videojet's global reach and scale.”
Foba develops, manufactures and markets products for laser marking and engraving. Typical industries pursuing their products include packaging, automotive, electronics, smart card, and solar, as well as mold and tool manufacturers.
"For Gerber, this transaction represents one of several potential non-core/non-strategic asset sales that we have been reviewing and the proceeds from this sale will provide us with additional flexibility under our senior credit facility,” says Giles.