Qioptiq Sells Coatings Unit

Optical systems, modules and components maker Qioptiq SAS has sold its Plymouth, England-based coatings business, Qioptiq Coatings Ltd., for an undisclosed amount in a management buyout, the company announced today.

Qioptiq Coatings was Paris-based Qioptiq's technical center of excellence for optical thin-film coatings serving the defense, photonic surgery, medical instrumentation, analytical instrumentation and science and research markets. The buyout, completed Oct. 24, was led by Ian Moyes, the unit's former director of sales and marketing. The new company, to be known as Artemis Optical Ltd., will continue to provide advanced optical coatings at the Plymouth facility; Moyes will serve as the company's chairman. The company's new Web site is www.artemis-optical.co.uk

"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," said Qioptiq CEO Benoit Bazire.

"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," said Moyes.

For more information, visit: www.qioptiq.com