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17 Jun 2002
The German subsidiary of Rofin-Sinar Laser has bought fellow German company Baasel Lasertech Group, creating one of the largest industrial laser manufacturing groups in the world.
Headquartered near Munich, Germany, the Baasel Lasertech makes laser systems for marking, fine cutting/welding, and laser sources for sheet metal cutting, laser perforation and medical applications. It produced around 800 lasers in 1999 and has revenues of Euro 59.3 million.
Peter Wirth, president and CEO of Rofin-Sinar said: "This is an important acquisition for Rofin-Sinar. The Baasel Lasertech Group will strengthen our position in the market for laser material processing, while its proven experience in wafer marking, laser perforation systems and systems for fine cutting will create new market opportunities for us."
Under the agreement, Rofin-Sinar will acquire 90.1% of the share capital of the company for Euro 44.4 million in cash. Carl Baasel, the company's founder, continues to hold the remaining 9.99%. Rofin-Sinar will also arrange refinancing of Baasel Lasertech Group's projected debt of approximately Euro 27 million. The transaction is subject to approval by the supervisory board of Baasel Lasertech's parent company Mannesmann Demag Krauss Maffei.
Thomas Merk, formerly managing director of Boehringer Werkzeugmaschinen, has become managing director of Baasel Lasertech, responsible for world-wide sales.
Story courtesy of Opto and Laser Europe magazine.
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