(West Palm Beach, FL) - Coastal Optical Systems, Inc. has been acquired by Jenoptik Optical Systems GmBH, a subsidiary of Jenoptik AG. The Jena, Germany based company has acquired 100% of shares retroactive to January 1, 2002.
"We look forward to leveraging the significant resources of Jenoptik while we continue to build our company," said Coastal's president Jay Kumler. "Our customer's should expect little change outside of an expanding range of capabilities", he added. In addition to benefiting from the anticipated synergies in engineering services, manufacturing technology and measurement technology, Coastal expects to profit both from the Jenoptik Group's financial strength and from its production capabilities in Jena.
"The strength of Coastal is as a flexible supplier for optical solutions," said Norbert Thiel, CEO of JENOPTIK Optical Systems GmbH. "Both, the strength of Coastal and the financial and industrial background of Jenoptik are the guarantees for the further development of the business and customer satisfaction."
Coastal Optical Systems specializes in rapid development and manufacture of custom precision optical assemblies for aerospace, telecommunication, machine vision, bio-medical and 3-D digital entertainment markets. The company, founded in 1991, has achieved an average annual growth of 24% over the last 5 years. Jenoptik, officially founded in 1995, has roots extending 150 years into the beginnings of the modern optics industry.
Coastal also expects synergies with JENOPTIK Optical Systems GmbH's other US based subsidiary, Liebmann Optical Company of Easthampton, Massachusetts. Liebmann manufactures high-quality micro-optic components.
About Coastal Optical Systems, Inc. (www.coastalopt.com)
Coastal Optical Systems, Inc. designs and manufactures precision lens assemblies primarily for aerospace, machine vision, digital imaging and digital projection, and optical networking applications.
About JENOPTIK Optical Systems GmbH. ( www.jenoptik.com.de)
JENOPTIK Optical Systems GmbH was founded in 1995 and is a wholly-owned subsidiary of the JENOPTIK AG technology group of Jena, Germany (ISIN 622 910). The company develops, produces and distributes laser sources, optical components, modules and system solutions as well as the technologies used in the precise measurement, imaging, structuring and analysis of a variety of materials. The company's success is anchored in its use of the latest in technology and its custom-designed applications.
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