Navitar Secures Access To Capital In Excess
Of $100 Million
Plans Strategic Acquisitions for 2005
ROCHESTER, NEW YORK -- Jan. 11, 2005 – Navitar,
Inc., a leading optical manufacturer announced today it has secured access
to capital in excess of $100 million to fund its aggressive growth plans
for 2005. According to Co-President Jeremy Goldstein, “We plan on
tapping into our capital sources when the right strategic acquisition
becomes available. Funding strategic acquisitions is part of our plans
for 2005 to expand internationally and to accelerate our pace of organic
growth which was nearly 30% for 2004.”
Jeremy Goldstein added that “By Navitar gaining access to a significant
amount of capital, we can evaluate synergistic companies or product lines
that can complement our existing operations, fill unique product or geographic
gaps, and benefit from our established infrastructure, strong brand recognition,
and distribution channels. Navitar’s organic growth is expected
to continue as they add international offices in China, Singapore, and
Germany to go along with their expanding offices in Japan, Israel and
the UK.
According to Julian Goldstein, “We are fortunate to have a strong
management team in place that has successfully completed business combinations
while delivering increasing earnings and important technology advances
to our customers. As the optical industry is highly fragmented, we see
significant consolidation potential as the vast majority of companies
within the industry are smaller, privately held firms with limited access
to capital.”
How far can Navitar grow? Well, according to Jeremy Goldstein, “If
some of our acquisition plans are successful, we can see growing to the
$100 million, then $200 million and as high as $300 million level over
the next few years. During this time, we will be constantly striving to
excel in serving our customers while seamlessly delivering value through
continuous technological innovation all with the goal to be the number
one choice for where our customers want to do business.”
About Navitar, Inc.
Navitar, Inc., established in 1972 and based in Rochester, New York, is
a leading manufacturer of superior quality optical lens systems and complete
customized optical solutions for the Machine Vision, Life Sciences, LCD
& DLP projection, and Defense industries. Navitar, Inc. has offices
and subsidiaries in the U.S., Europe, the Middle East and Asia. Customers
include GE Medical, Intel, Texas Instruments, BAE Systems, Sharp, Sony,
NEC, Applied Biosystems, Perceptron, IBM, Philips, Mitsubishi, Agilent,
Sanyo, NCR, Nikon, Karl Suss, Bio-Rad and Raytheon. For more information
about Navitar, Inc. and their innovative products, visit the Company's
web site at www.navitar.com or contact Navitar, Inc., at 200 Commerce
Drive, Rochester, NY, 14623. Call 585-359-4000, Fax 585-359-4999, Email:
info@navitar.com
CONTACT INFORMATION
Rosemary Kelly
Navitar, Inc.
585-359-4000 ext 3243
www.navitar.com
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