Applied Films acquires Vacuum Coating Technologies

Applied Films has announced the acquisition of Vacuum Coating Technologies (VACT).

VACT, headquartered in Fairfield, Calif., manufactures and services thin film deposition equipment for the architectural and automotive glass market. The company was formerly known as BOC Coating Technology and later became a subsidiary of Von Ardenne Anlagentechnik GmbH.

The VACT acquisition adds local manufacturing presence, new customers, new products and technology Intellectual Property to Applied Films and enhances the glass customer service in the United States. At present, the architecture and automotive glass segments of Applied Films runs out of Germany. The purchase price for VACT was a 50/50 cash-stock deal totalling $27.75 million (US).

Separately from the VACT-acquisition, Applied Films also announced that it is selling its 50-percent coating glass stake in its China Glass coating Joint Venture Suzhou NSG AFC Thin Film Electronics Co., Ltd., (STEC) to its Joint Venture Partner Nippon Sheet Glass. Applied Films commented that the coating of Glass is no longer core to the business and the company's strategy of growing it's equipment business.