Rifocs Corp. Acquired by Textron of Rhode Island
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Camarillo-based Rifocs Corp., a privately owned manufacturer of fiber-optic instruments and components for the industrial, commercial and aerospace defense industries, has been acquired by Textron Inc. of Providence, R.I.
Rifocs will become part of Greenlee Textron, a supplier of test, measurement and installation equipment for the data-signal-voice market. Projected 1999 revenues for Rifocs are $17 million. Terms of the transaction were not disclosed.
“With products ranging from hand-held fiber-optic test instruments to high-precision optical components, Rifocs further accelerates Greenlee Textron’s growth in the data-signal-voice market,” said Lewis B. Campbell, Textron chairman and chief executive.
“Fiber optics is the fastest-growing sector of the data-signal-voice market and will become increasingly important to our business as Internet technology continues to heighten in years ahead.”
Textron is an $11.5-billion company with businesses in the aircraft, automotive, industrial and finance markets.
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