Applied Films sells coated glass business

Longmont-based Applied Films Corp. (Nasdaq: AFCO) has finished the sale of its coated glass business in Hong Kong to Nippon Sheet Glass for $1.2 million, plus $130,000 in inventory.

The business resold coated glass bought from Applied Films' joint venture in China with Nippon Sheet Glass.

"This sale completes our strategy of transitioning all of our revenues to thin film deposition equipment. This transaction will allow us to focus on producing and developing thin film deposition equipment for our existing and emerging markets," said Tom Edman, president and CEO of Applied Films, in a statement.

600450 Applied Films sells coated glass business glassonweb.com
Date: 30 September 2003
Source: Denver.bizjournals.com

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