MAY 15--Coastal Optical Systems Inc. (West Palm Beach, FL; www.coastalopt.com) has been acquired by Jenoptik Laser, Optik, Systeme GmbH, a subsidiary of Jenoptik AG (www.jenoptik-los.de). The Jena, Germany-based company has acquired 100% of shares retroactive to January 1, 2002.
Said Coastal president Jay Kumler, "Our customer's should expect little change outside of an expanding range of capabilities." In addition to benefiting from the anticipated synergies in engineering services, manufacturing technology, and measurement technology, Coastal expects to profit from both the Jenoptik Group's financial strength and its production capabilities in Jena.
"The strength of Coastal is as a flexible supplier for optical solutions," said Norbert Thiel, CEO of Jenoptik Laser, Optik, Systeme 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, telecommunications, machine vision, biomedical and 3-D digital entertainment markets. The company, founded in 1991, has achieved an average annual growth of 24% over the last five years. Jenoptik, officially founded in 1995, has roots extending 150 years into the beginnings of the modern optics industry.
