Lambda Physik AG (Göttingham, Germany) has reached agreement with Jenoptik AG about the acquisition of its 44% interest in the joint venture MicroLas Lasersystem GmbH. Lambda Physik, which has held a 46% ownership share in the company, will now be the majority owner with a total of 90%.
MicroLas Lasersystem GmbH was established in 1991 as a joint venture between Lambda Physik and Jenoptik. The company manufactures optical components such as lenses and beam guidance systems that are used in connection with Lambda Physik lasers in the production of TFT flat-panel displays and ink jet printers. MicroLas director Dr Hans-Jorgen Kahlert currently owns 10% of the shares in the company. The acquisition is therefore subject to approval by the German cartel authorities, as well as the option by Dr. Kahlert to exercise of a right of first refusal to a proportion of the shares.
MicroLas is expecting to generate sales of Euro 10 million in the current 2001 fiscal year (that ends on September 30), as well as earnings before interest and tax (EBIT) of Euro 3.5 million. �Since 95% of the sales of MicroLas products have been transacted via Lambda Physik anyway,� says Christoph Syring, Lambda CFO, �the acquisition will not have any major impact on our sales figures. The high profits made by MicroLas will, however, lead to another substantial improvement in the EBIT margin of our industrial business.�