For the second time in a month, automated machinery maker Gerber Scientific Inc. in South Windsor has sold off one of its businesses as part of an ongoing plan to trim debt.
Gerber said it sold nearly all the assets and liabilities of its Canadian-based ND Graphics business to an investor group led by ND chief executive Mark West.
Terms were not disclosed.
ND Graphics is a distributor in the sign making, specialty graphics and imaging markets. The company will remain Gerber’s Canadian distributor.
In September, Gerber sold for an undisclosed sum its German laser marking and engraving business to Videojet Technologies Inc. of Illinois.
Gerber said last summer it was exploring the potential sale of assets to generate approximately $20 million amid slumping orders for its high-tech automated cutters used to make signs, clothes and eyewear.
Gerber CEO Marc Giles said the sale of ND and other assets unrelated to its core business will give Gerber flexibility under its existing bank line of credit.
