Plymouth, MI, USA & Hamburg, GermanyâRofin-Sinar Technologies Inc. (NASDAQ: RSTI) has acquired Thun, Switzerland based Lasag AG, including the worldwide Lasag operations from The Swatch Group Ltd. for an undisclosed amount in a cash transaction, which is subject to customary closing conditions. Further terms of the acquisition were not disclosed.
According to the press release issued today, Lasag AG was founded in 1974 and is one of the original laser companies with more than 30 years of experience in the development and manufacturing of industrial solid-state lasers. Lasag markets and sells its laser products for fine cutting, spot welding, drilling and scribing applications to the medical device, automotive, electronic and aerospace industries. The company also has special expertise in high-precision drilling and laser processing heads.
Lasag has approximately 80 employees worldwide and maintains offices in the US, Japan, Germany and Italy. According to the release, Lasag locations in Thun, Switzerland, and Chicago, IL will be maintained.
The sale of Lasag will allow The Swatch Group Ltd. to continue its strategy of refocusing on its successful core business, while at the same time allowing Lasag AG to grow more dynamically in the future.
âThis is an important acquisition for Rofin-Sinar as we continue to extend our broad product portfolio and to expand our worldwide customer base," stated Günther Braun, CEO and President of Rofin. âLasagâs products will round off our laser source and system offering for micro processing and we are confident that the talents and skills of the LASAG team will contribute to the future success of our Group, and will further strengthen our position in the laser market for material processing.â
For more information visit www.rofin.com.
Posted by Steve Anderson