Rofin-Sinar Acquires Switzerland's Lasag
Rofin-Sinar Technologies Inc. (Nasdaq: RSTI), the industrial laser maker with dual headquarters in Plymouth and Hamburg, Germany, Friday announced the acquisition of Lasag AG of Thun, Switzerland, from Swatch Group Ltd.
The acquisition was for an undisclosed amount of cash. The amount and other terms were not immediately disclosed.
Founded in 1974, 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. In addition, the company has special expertise in high-precision drilling and laser processing heads.
Lasag has approximately 80 employees worldwide and offices in the United Stattes, Japan, Germany and Italy. Lasag locations in Thun, Switzerland, and Chicago, Ill. will be maintained.
"This is an important acquisition for Rofin-Sinar, as we continue to extend our broad product portfolio and to expand our worldwide customer base," said Gunther Braun, CEO and president of RSTI. "Lasag's 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."
Rofin-Sinar designs, develops, engineers and manufactures laser sources and laser-based systems for a wide range of applications. With production facilities in the U.S., Germany, the United Kingdom, Sweden, Finland, Singapore and China, Rofin-Sinar currently has more than 33,000 laser units installed worldwide and serves more than 3,000 customers.
More at www.rofin.com.
(c) 2010, WWJ Newsradio 950. All rights reserved.
