Edmund Optics Announces Equity Investment in ITOS
Edmund Optics anounced an equity investment in ITOS in Mainz, further details of the agreement remain confidential. ITOS-Gesellschaft für Technische Optik mbH, has manufactured optical components, including filters, polarizers and display components since 1993 and will now operate as a subsidiary of Edmund Optics. With a current workforce of about 20 employees and more than 700 customers, ITOS represents a successful and strategic addition to Edmund Optics' manufacturing portfolio. The ITOS product offering will be expanded and added to the Edmund Optics catalog, exposing them to a much wider market globally. At the same time, the investment strengthens Edmund Optics' presence in Europe and sets a starting point for offering manufacturing capabilities within the region underlining Edmund Optics' commitment to European customers.
"Edmund Optics' presence in Europe has grown significantly and Germany is our strongest market in the region," said Samuel Sadoulet, President of Edmund Optics Inc. "EO is commited to our European customers, and we seek strong partners to continue to service customers in the region and globally. With ITOS we found a great partner with great culture supporting this development." Horst Grode, Managing Director of ITOS states: "We have known Edmund Optics for a long time and have successfully worked together for many years. The step now to partner is a win-win situation and we are looking forward to that new exciting combination." Horst Grode will remain Managing Director of ITOS GmbH.