Spire Corp. Completes Sale of Optoelectronics Business to Methode Electronics

January 17, 2000 by Jeff Shepard

Spire Corp. (Bedford, MA) recently announced that it has completed the sale of substantially all the assets of Spire's optoelectronics business segment for $12,950,000 in cash to Methode Massachusetts LLC, a wholly-owned subsidiary of Methode Electronics Inc. (Chicago)."With the transfer of its optoelectronics business to Methode, Spire has strengthened its financial ability to better pursue its Solar and Biomedical businesses," said Roger G. Little, president of Spire.