India, July 23 -- LightPath Technologies, Inc. (LPTH), a provider of optics and imaging systems, on Thursday said it has agreed to sell its China subsidiary to an entity owned by members of the facility's management team.
The U.S. optics company agreed to sell LightPath (Zhenjiang) Optical Instrumentation Co Ltd for $4.5 million, payable in installments over five years. The deal is expected to close in the coming weeks.
Upon completion, LightPath said it would have no facilities or operations based in China. The divestiture completes the company's transition to a fully Western-aligned manufacturing footprint, it said.
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The purchaser will continue to supp...