LightPath Technologies agrees to divest its China-based manufacturing operations for $4.5M payable over five years.
LightPath Technologies (LPTH) has finalized the sale of its wholly owned subsidiary, LightPath (Zhenjiang) Optical Instrumentation, for $4.5M. The deal includes the transfer of a manufacturing facility and all operations in China.
The purchase price will be paid in installments over five years, with no upfront cash payment disclosed. LightPath had previously expanded its China footprint to capitalize on lower production costs and local demand.
No immediate market reaction was reported following the announcement.