GROUP TECHNOLOGIES SELLS IMAGING PRODUCTS UNIT TO SIENNA IMAGING CORPORATION.
The sale of the imaging products business will allow METRUM to focus its entire attention on expanding the company's core instrumentation products business, its strength for more than 40 years. METRUM specializes in high performance, digital and analog recording technologies for a broad range of data acquisition applications in commercial and government markets.
Under terms of the agreement, Sienna Imaging will acquire the rights to manufacture, market and distribute digital imaging products including the METRUM FotoPrint(TM) product line which includes the FP500 digital imager and the FP1000 digital imager/processor. The company also will market all FotoPrint- related consumable products.
"The FotoPrint product line has tremendous potential in the emerging digital imaging market, but requires a full-time product development and marketing effort to reach its maximum potential," said Dr. Avi Margalith, president of METRUM. "With the company's recent decision to concentrate its resources on its core instrumentation business, we felt it was time to sell the imaging business to ensure continued focus on this core strategic area."
The imaging products business will be relocated to Sienna Imaging's new facility located at 7050 South Tucson Way, Englewood, Colorado 80112. Some METRUM employees will be asked to join Sienna while others may be retained by METRUM.
Established in 1954, Honeywell Test Instruments Division became METRUM in September 1990 as part of a corporate spin-off of Honeywell Defense and Marine Systems Division, Honeywell Signal Analysis Center and Honeywell Test Instruments Division. METRUM became a business of the new spin-off company, Minnesota-based Alliant Techsystems, Inc. In December 1992, METRUM was purchased by and became a wholly owned subsidiary of Group Technologies Corporation, Tampa, Florida. With revenues of $274 million in 1994, Group Technologies is a leading provider of advanced manufacturing, engineering, and testing services to original equipment manufacturers of electronic products. The imaging products business accounted for $3.9 million of Group Technologies' 1994 sales.
Dr. Avi Margalith, 303/773-4700 (Denver)
or 813/972-6416 (Tampa)
|Printer friendly Cite/link Email Feedback|
|Date:||Jun 7, 1995|
|Previous Article:||BIOMIRA RIGHTS OFFERING RAISES $26.6 MILLION.|
|Next Article:||Federated plans new Macy's at The Falls in Miami.|