Product category: Optoelectronic Sensors, Switches and Receivers
News Release from: AP Technologies
Edited by the Electronicstalk Editorial Team on 23 January 2003
Advanced Photonix acquires Texas Optoelectronics
Advanced Photonix has acquired the outstanding capital stock of Texas Optoelectronics
Advanced Photonix, represented in the UK and Ireland by APTechnologies, has acquired the outstanding capital stock of TexasOptoelectronics (TOI). TOI, based in Garland, Texas, was foundedin 1981 and is a privately owned developer and manufacturer ofoptoelectronic components and assemblies. TOI is a preferredmilitary supplier for custom designed displays, assemblies,training devices and detectors for laser munitions.
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In addition,it has leveraged its experience within the military and aerospacemarkets to develop customised solutions for customers in othermarket segments, including medical systems, laboratoryinstrumentation, security, commercial and industrial automation.In commenting on the purchase, Brock Koren, AdvancedPhotonix's President and Chief Executive Officer, stated,'The TOI acquisition significantly increases AdvancedPhotonix's penetration of the global military market whilebroadening our portfolio of customers in the commercial, medicaland industrial markets.
We look forward to welcoming the existingTOI customers into the Advanced Photonix family of customers andpromise to offer the same superior quality, price and deliverythat has been TOI's trademark'.
Paul Ludwig, API'sChief Operating Officer, went on to say, 'Our goal is toincrease the manufacturing and process capability within theCompany; the TOI acquisition helps to accomplish that goal byincreasing our capabilities for supplying higher-end assembliesand subsystems to a variety of optoelectronic markets.
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Theadditional manufacturing volume will help us leverage ourexisting overhead thus creating a higher competitive advantage inour cost structure'.
Richard Kurtz, Chairman of API,commented, 'Our vision is to build Advanced Photonix intothe leader of engineered optoelectronic solutions.
The visionstarts with having the right combination of design, manufacturingand process capabilities to create the foundation which willsecure our position in the military, medical, commercial andindustrial markets, while maintaining a competitive advantage inquality, cost and time to market.
The TOI acquisition is a steptoward realising that vision'.
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