Spectra-Physics to Remain a Public Company

MOUNTAIN VIEW, Calif., Feb. 1 -- Spectra-Physics has confirmed that it will remain a public company, despite a recently announced reorganization by Thermo Electron Corp., of which Spectra-Physics is a majority-owned subsidiary. Thermo Electron plans to spin in, spin off, and sell various businesses in order to focus solely on its core measurement and detection instruments business.
Thermo Electron, which acquired its majority stake in Spectra-Physics in February 1999, announced that it will continue to evaluate the business.