Business News

Gerber Scientific, Inc. Closes on Sale of Gerber Coburn

Monday 03. January 2011 - Gerber Scientific, Inc. ("the Company") (NYSE: GRB) today announced that it had closed on the previously announced sale of its ophthalmic lens processing business unit, Gerber Coburn, to Coburn Technologies, Inc. for approximately $19 million, after fees and expenses.

The Company said proceeds would be used to reduce its outstanding debt and for general corporate purposes. Results for the ophthalmic lens processing business will now be presented as a discontinued operation in the consolidated financial results for Gerber Scientific. RA Capital Advisors acted as financial advisor to the Company in the transaction.