Date Announced: 01 Oct 2010
Thun-based firm has 80 employees and specializes in solid-state lasers.
PLYMOUTH, Mich., HAMBURG, Germany and BIEL/BIENNE, Switzerland, Oct. 1 /PRNewswire-FirstCall/ -- ROFIN-SINAR Technologies Inc. (Nasdaq:RSTI - News) and THE SWATCH GROUP LTD. (SIX: UHRN.S / UHR.VX) today announced that ROFIN-SINAR Technologies Inc. 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 have not been disclosed.
Founded in 1974, LASAG AG (http://www.lasag.com) 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. In addition, the company has special expertise in high-precision drilling and laser processing heads. Headquartered in Thun, Switzerland, the company has approximately 80 employees worldwide and maintains offices in the US, Japan, Germany and Italy. The LASAG locations in Thun, Switzerland, and Chicago, IL, USA, will be maintained. With this step, THE SWATCH GROUP LTD. consequently continues its strategy to refocus on its successful core business. In parallel, this will allow LASAG AG to grow more dynamically in the future.
"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."
Web Site: www.rofin.com