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January 2, 1997 Leominster, MA - Fosta-Tek Optics announced today that it has acquired the intellectual property and intangible assets of Optimum Systems Technologies (OST) of Billerica, MA. Certain patent licenses and related trade secrets had been Previously purchased by Galic/Maus Ventures of Golden Valley, MN. Fosta-Tek will use the purchase to expand its contract molding services outside of the safety and military lense markets. Fosta-Tek Optics is a leading manufacturer of plastic optical components for the military and safety eyewear, sports eyewear, automotive and electronic markets. Fosta-Tek specializes in molded products requiring siloxane hardcoat, and cast resin products for display windows and scanner systems. Fosta-Tek also is an experienced designer and manufacturer of optical molds, thereby providing all necessary engineering and manufacturing requirements for most plastic optics. OST considered itself a pioneer in precision injection-molding for electronic and medical markets. OST generated sales of 3.3 million in 1995. OST's financial difficulties led to it filing for Chapter 11 Bankruptcy protection in December 1995. OST subsequently ceased operations in September 1996 through conversion to a Chapter 7 plan of liquidation.
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 320 Hamilton Street, Leominster, MA 01453 (978) 534-6511, fax (978) 537-2168 info@fosta-tek.com |
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