Newport buys commercial optics from Corning

The commercial optics operation of Corning OCA (Garden Grove, CA), a subsidiary of Corning Incorporated, has been sold to Newport Corp. (Irvine, CA). The amount of the cash purchase was not released. The Corning OCA operation specializes in precision optical products and systems, providing optomechanical subassemblies and thin-film technology and coatings. Sales for 1999 are projected to be approximately $10 million. Existing Newport optics operations will be consolidated into the Corning OCA facility. Newport president and CEO Robert G. Deuster said the purchase brings Newport important capabilities with applications in various industries it plans to target.