Thursday, September 24, 2009

Schmitt Industries Buys Optimal Dimensions

Portland-based Schmitt Industries, a manufacturer of computer controlled balancing equipment for the machine tool industry, said Thursday that it is in a definitive agreement to acquire the assets of Optical Dimensions, a developer of equipment for measuring surface roughness. The deal is worth $100,000 in cash plus Schmitt common stock equal in value to $100,000. Optical Dimensions is a sole proprietorship owned by Glenn Valliant, who is joining the firm as part of the acquisition. Optical Dimensions' product, LaserCheck, uses laser light to make precision surface roughness measurements, used to measure ground, sanded, polished, honed, super-finished and shot blasted surfaces.