November 4, 2008--Optical solutions provider Qioptiq (Paris, France) completed the sale of its Plymouth, U.K. coatings business, Qioptiq Coatings. In a management buyout, the team, led by Ian Moyes, agreed to purchase the business from Qioptiq SAS for an undisclosed amount. The new company, Artemis Optical, will continue to provide advanced optical coatings at the Plymouth facility.
Qioptiq CEO, Benoit Bazire, 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, said, "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."
In related news, Qioptiq just opened its three-story, 200,000 sq. foot factory in Singapore, which increases the size of the companies' previous site by nearly 120% and has been equipped with clean room facilities, which among other enhancements, will allow Qioptiq to better serve its key defense and commercial customers. It also provides space to enable Qioptiq to work in the ultraviolet wavelength range of optics. The expanded site now provides the Qioptiq Group with a center of excellence for the manufacture of precision optics in the Asia Pacific region.