Fluorocarbon Co. of Laguna Niguel has completed...

Fluorocarbon Co. of Laguna Niguel has completed the previously announced sale of its semiconductor division for $11 million in cash and notes to a group of investors. Keith Norby, chairman of the new company, Verteq, and Melvyn Simmons, Verteq president, said they planned to expand foreign sales and sales of electronics and fiber optics to provide diversity to the company’s product line, which is highly dependent on the volatile semiconductor market in the United States. The 250 employees in the Anaheim semiconductor plant and seven quartz fabrication plants across the United States will remain as Verteq employees.

Fluorocarbon said earlier that it had decided to sell the semiconductor division, which had sales of $23 million for the year ended Jan. 31, in order to concentrate on its rubber and plastics molding business and to avoid financial downturns caused by fluctuations in the semiconductor market.