Business Services Industry
Adv. Lighting buys into fiber optics firm. (Advanced Lighting Technologies Inc.)
Crain's Cleveland Business, August, 1997 by Wigdalski, Sarah
Advanced Lighting Technologies Inc. in Twinsburg hopes a recent investment in a California supplier of fiber optic lighting will light the way to further earnings growth. The maker of metal halide lighting products last month bought 630,111 shares of Fiberstars Inc. of Fremont, Calif. Advanced Lighting paid $2.8 million, or $4.49 a share, for the stock, which raised its total holdings in Fiberstars to 669,411 shares, or 19.6% of the company's common, according to a July 30 filing with the Securities and Exchange Commission.
Advanced Lighting also acquired a voice in Fiberstars' corporate decisions when Advanced Lighting chief executive and chairman Wayne Hellman joined Fiberstars' board of directors after the purchase of the stock. The investment is part of a...
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