Cleveland, OH - Ferro Corp. (NYSE:FOE) has acquired privately held laser marking technology developer TherMark (Irvine, CA) for $5.5 million in cash, subject to customary adjustments. TherMark is Ferro's largest partner in the marketing of laser marking materials and also licenses technology to Ferro.
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TherMark's unique patented technology uses precise lasers to quickly and permanently fuse marking materials to metals, ceramics, glass, plastics, and other hard surfaces. The process creates high-contrast, high-resolution marks for purposes of decoration and identification. The specially formulated marking materials, supplied by Ferro, consist of glass-based ceramic glazing material and pigments, with the addition of a thermal absorber.
Laser marking is used in many industries, including awards and recognition, signage, medical and surgical instruments, manufacturing, and home appliances and décor. The technology is increasingly being used as a solution for component tracking, quality control, and anti-counterfeiting in the automotive, aerospace, and perfume and cosmetics industries.
"This is a small but attractive, value-creating investment for Ferro," says Peter Thomas, Ferro's chairman, president, and CEO. "Laser marking is a fast-growing, high-value niche industry and we believe we can capitalize on this opportunity by leveraging our significant presence in glass coatings to drive future growth. Given our existing position as a supplier of laser marking materials and our knowledge of TherMark's technology, we expect to seamlessly integrate the acquisition into our Performance Colors and Glass industrial products portfolio."