OCLI sells off glass subsidiary
Optical Coating Laboratory Inc. (OCLI; Santa Rosa, CA) has sold the assets of the MMG Division of OCLI Optical Coating Laboratory GmbH (Goslar, Germany) to Glas Trosch in Switzerland. Glas Trosch paid about $10 million in cash. OCLI made this move to pull back from the flat-glass and glass-cutting markets. OCLI will take a pretax loss of about $9.3 million, or $0.29 per share, in the fourth quarter. Over the next three years, OCLI expects revenues of $1.8 million for the use of intangibles. Glas Trosch is expected to keep the operation intact and expand MMG`s capability into other markets.