Advanced Lighting Technologies Inc. of Twinsburg, OH, has acquired an equity interest in fiber-optic lighting systems maker Fiberstars Inc. of Fremont, CA. The equity position of Advanced Lighting Technologies totals approximately 18% of Fiberstars' shares outstanding, which were formerly held by Pacific Technology Partners, a venture capital fund. Wayne R. Hellman, chairman and CEO of Advanced Lighting Technologies, has joined the Fiberstars board of directors.
A strategic partnership between the companies was announced by David N. Ruckert, president and CEO of Fiberstars. Says Ruckert, "Advanced Lighting Technologies has superior metal-halide lamp technology. The opportunity for both our companies to design lamps and power supplies expressly for fiber-optic lighting systems has the potential to deliver a competitively significant increase in the performance of Fiberstars products, at pricing that is generally competitive to conventional electric lighting products." The tie-up is expected to expand the use of fiber optics throughout the lighting industry.
Advanced Lighting Technologies also recently purchased UK-based W.J. Parry Electrical, which makes power supplies and electronic ignitors for metal-halide lighting systems.