NAFELS, SWITZERLAND — Swiss injection press maker Netstal-Maschinen AG has sold First Light Technology Inc., which makes compact disc manufacturing equipment in Saco, Maine.
Netstal sold First Light to a German company, Steag Hama Tech GmbH. Steag, based in Sternenfels, also makes CD equipment.
Terms were not disclosed.
Netstal's main business is injection molding machines. It has sold more than 1,000 machines to mold CDs, worldwide. Last year, Netstal claimed to hold a 36 percent share of the North American market for CD molding machines.
Netstal founded First Light 10 years ago to make CD manufacturing cells. The Swiss company's U.S. operation, Netstal Machinery Inc. in Devens, Mass., was majority owner of First Light.
Officials of Netstal said getting rid of First Light allows them to take a neutral, noncompetitive stance when selling CD presses.
Netstal used that same logic in 1997 when it sold its CD jewel box molding operation in Fitchburg, Mass., to Shape Global Technology Inc. Netstal had started the small molding operation, called Optima Precision Inc., at its U.S. headquarters to show off its presses to customers, but the business grew into a major player in the industry.
After selling Optima, Netstal's U.S. operation moved from Fitchburg to Devens.
Netstal said in a news release that the First Light sale will become effective in January. Officials were not available for further comment.
