Ocean Optics Acquires Continental Optical,Forms New Division

DUNEDIN, Fla., November 29, 1999 -- Ocean Optics Inc. announced it has acquired the assets of Hauppage, N.Y.-based Continental Optical Corp., a manufacturer of precision optical components and coatings that earned nearly $2 million in sales in 1999. Established in 1966, Continental Optical manufactures precision optical components, subassemblies and metrology instruments for the military and for research institutions at the university, corporate and government levels. Continental Optical will retain its name and operate as a division within Ocean Optics; Mark Grindel, president of Continental Optical, will serve as general manager of the new division.
The acquisition follows close on the heels of Ocean Optics' formation of Ocean Thin Films, a new division created by the spectrometer manufacturer to produce high-volume patterned dichroic optical filters and thin-film components. The Thin Films division will be housed in a new 22,000-square-foot facility in Largo, Fla., and is expected to add up to 40 employees during the coming year.