Gerber Scientific to sell engraving business unit

US: Gerber Scientific to sell engraving business unit

By just-style.com | 5 August 2009

Gerber Scientific Inc, the parent of CAD/CAM supplier Gerber Technology, is to sell its laser marking and engraving business unit, FOBA Technology + Services GmbH.

The sale to Alltec Angewandte Laserlicht Technologie GmbH comes a month after the firm was forced to deny rumours Gerber Technology might be offloaded in a bid to raise funds after swinging to a fourth quarter loss of $2.3m.

Gerber president and CEO, Marc Giles, said the transaction "represents one of several potential non-core/non-strategic asset sales that we have been reviewing and the proceeds from this sale will provide us with additional flexibility under our senior credit facility."

Sectors: Apparel, Manufacturing, Technology

Companies: Gerber Technology