Thursday, 08 December 2011 23:00
FOR IMMEDIATE RELEASE
For more information, please contact:
Vice President Marketing
BENSENVILLE, Ill.—Opti-Vue, Inc., a company owned by the Vulich family, has reached an agreement with Industrias de Optica (INDO), a Spanish manufacturer of lenses and equipment, through which the Vulich family will reacquire from INDO 100 percent ownership of AIT Industries.
AIT Industries is an Illinois company that manufactures and distributes lab finishing equipment and ophthalmic instruments. The company has been in business since 1952 and was originally purchased in 1996 by longtime AIT engineer Yordan Vulich. In 2004, INDO purchased a share of AIT from Opti-Vue, which had been distributing INDO finishing equipment since 1999.
The agreement was officially approved by the Mercantile Court number 6 in Barcelona on Nov. 29, 2011 as beneficial to INDO's reorganization plans. INDO has been in bankruptcy reorganization since June of 2010.
"This agreement is a win-win for both AIT and INDO," said Joe Vulich, president AIT Industries. "AIT secures the distribution rights for the INDO product line as well as it allows us expand our overall product portfolio for future growth plans. INDO secures a distribution channel in the U.S. for their product line and takes a major step toward completing their reorganization plans."
Matt Vulich, AIT's vice president, marketing, added, "Today, AIT is more than just a highly respected patternless edger company. We have diversified our product offering that includes a complimentary line of ophthalmic instruments. With edgers, we offer WECO as our most advanced edging system, Indo as our mid-range and the AIT Continuum as the economy brand."