Genlyte to Buy Out Thomas for $400 Million

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

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