Waterloo, ON—Virtek Vision International Inc., a leading developer of precision laser-based solutions, has acquired, from the Hasco Group, 75 percent of FOBA Technology + Services GmbH (Lüdenscheid, Germany) and the business assets of FOBA North America Laser Systems, LLC (Lee's Summit, MO). FOBA is a global laser marking and engraving company.
Hasco Group, a worldwide supplier of standard elements for mold, tool and jog making, will continue to hold 25 percent of FOBA, until the fifth anniversary of the acquisition, at which time Virtek has the option to purchase this remaining share.
Bob Sandiness, president and CEO of Virtek, commenting on the acquisition said it was a strategic fit that will increase the company's revenues while affording them a permanent base in Europe. "Virtek and FOBA operate in the same industrial laser space with complimentary products. Together, there is a tremendous opportunity to accelerate revenue growth by focusing on new markets and entering into new geographic territories."
Virtek will retain the facilities and employees in Lüdenscheid and Lee's Summit.
For more information on this acquisition, contact Brian Hilliker at [email protected].
Correction
In the article "From welding to polishing" (ILS April 2003, page 10), we ran an incorrect photo for Figure 3. The article describes a 100W fiber-coupled Nd:YAG laser, which melts and anneals mechanical parts, resulting in smoother, improved surface quality. The correct photo for Figure 3 is reproduced here and shows that a 3D structure with curvature can be laser polished in one step.
