The Genlyte Group--parent company of Vari-Lite and Entertainment Technology--will buy out the 32% stake held by Thomas Industries for $400 million. In 1998, Thomas combined its lighting business with Genlyte's in order to form GTG. The objectives of this joint venture were to create a premier lighting company, to take advantage of numerous combined growth opportunities, and to realize substantial cost savings upon integration of the businesses. "We believe all of these objectives have been ...
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