Rofin-Sinar Technologies Inc. (NASDAQ: RSTI) 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 (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 GŸnther 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.”
With operational headquarters in Plymouth, Michigan, and Hamburg, Germany, Rofin-Sinar Technologies Inc. is one of the world's leading developers and manufacturers of high-performance laser beam sources and laser-based solutions. The company designs, develops, engineers and manufactures laser sources and laser-based system solutions for a wide range of applications. With production facilities in the US, Germany, UK, Sweden, Finland, Singapore and China, Rofin-Sinar is one of the world’s leading designers and manufacturers of industrial lasers and currently has more than 33,000 laser units installed worldwide and serves more than 3,000 customers. Rofin-Sinar’s shares trade on the NASDAQ Global Select Market under the symbol RSTI and are listed in Germany in the "Prime Standard" segment of the Frankfurt Stock Exchange under ISIN US7750431022. Additional information is available on Rofin-Sinar's home page, please see below.
The Swatch Group Ltd. is the world’s number one maker of finished watches. Group companies sell watches under nineteen different brands and the multibrand Tourbillon retail mark. Present in all segments of the retail watch market, the Group is also active in the manufacture and sale of jewelry, watch movements and components. The Swatch Group Ltd. supplies nearly all components required to manufacture its finished watches and supplies movements and components to third-party watchmakers in Switzerland and around the world. The Swatch Group Ltd. is also the most important player in advanced nanomechanical and nanoelectronic technologies essential to watchmaking and other industries. The Group employs 23,500 persons in over 50 countries. Gross sales in 2009 CHF 5,421 million. Operating profit of CHF 903 million or 17.6% on net sales. Additional information is available on The Swatch Group Ltd's homepage http://www.swatchgroup.com.