08 Nov 2016
Chinese giant expanding with strategic acquisition of specialty optical fiber /systems maker.
Han's free: Following takeover CorActive will continue to run independently.
Now, CorActive High-Tech is a subsidiary of the Chinese giant as a majority of the company was acquired. The partners say that the Canadian business, however, will remain independent and will continue its current operations in Quebec,
Jean Dubé, President and CEO of CorActive High-Tech, commented, "This deal is beneficial for both parties and emphasizes the complementarity of the businesses. One of the main components needed for our laser modules can now be sourced internally, greatly reducing our production cost."
For Han’s Laser, CorActive High-Tech represents a small but highly strategic acquisition, the company stated, which is expected to help the Chinese company to boost its capabilities in fiber laser manufacturing and expand into new applications and geographies.
Dube added, "We have worked with Han’s Laser for a number of years already. We believe that Han’s Laser’s acqusition of CorActive will be positive as it will propel and support us to become a more competitive player in the fiber laser module market. Everything will continue as planned. We will keep our current operation and will continue developing our current markets."
CorActive is a developer and manufacturer of advanced Specialty Optical Fiber products and laser modules that uniquely enable OEM customers to offer superior products and services. CorActive’s solutions are currently used for industrial, sensing, telecommunications and medical applications.
Han's Laser, based in Shenzhen, Guangdong Province, has a portfolio of more than 200 materials processing systems including tools for laser engraving, marking, etching, laser welding, laser cutting, sub-surface engraving, displays and more.
These ranges are widely used in the production of electronic appliances, integrated circuits, telecommunications equipment, computers, automotive, glass and optical units, construction materials, medical devices, jewellery, packaging, textiles, illumination and other fields.
|Luminar lidar to hit the road in 2022 with 'sub-$1000' price tag|
|Cicso targets silicon photonics again with $2.6BN Acacia bid|
|European Investment Bank supports Mauna Kea|
|Osram bosses back private equity takeover|
|Meyer Burger tops up Oxford PV funding round|
|Trumpf steps up expansion of its smart factory solutions|