The INDO Group has acquired a 51 percent stake in Optical Equipment Group Llc, an American company that owns the AIT brand and distributes equipment to optical companies. The Spanish company has an option to purchase an additional 24 percent share within five years in OEG, which has been distributing its bevelling systems in the USA for the past four years, including its pattern-less edgers. Founded in Chicago in 1964, AIT Industries manufactures and distributes lens finishing machinery and other related equipment for optical laboratories, employing 22 persons. INDO is keeping AIT's current management, which is led by Yordan Vulich. With sales of $6,842,000 in 2003 it has a US market share of 12 percent in this sector. INDO claims to be the world's 4th largest supplier of bevelling systems, with foreign sales accounting for 36.1 percent of turnover. The company has been supporting its foreign sales growth in other areas by taking financial stakes in foreign distribution companies in the USA, Germany and Italy.