ROFIN-SINAR Acquires 100% of ES Technology Ltd., a Manufacturer of Custom Laser Marking Systems
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PLYMOUTH, Mich. and HAMBURG, Germany, April 12 -- ROFIN-SINAR Technologies, Inc. (NASDAQ:RSTI), one of the world's leading developers and manufacturers of high-performance laser beam sources and laser- based solutions, today announced that its British subsidiary, Rofin-Baasel UK Ltd., has acquired 100% of the common stock of Oxford, UK-based ES Technology Ltd., in a cash transaction. Further terms of the acquisition have not been disclosed.
ES Technology Ltd. (http://www.estechnology.net/) was established in 1987 and develops customized laser marking system solutions based on various laser technologies. The company also distributes a number of optical devices and components into Northern European territories from several American suppliers via its subsidiary, Laser Service (Oxford) Ltd. In 20 years of business, the company has built a substantial installed base and serves key customers in Medical, Electronics and Automotive industries.
With 15 full-time employees, the company is projecting sales for the fiscal year ending June 30, 2007 in the range of British £2.0 million (approx. $3.9 million).
Dr. Greg Sharp-Dent, one of the co-founders of ES Technology, will continue in his role of Technical Director of the company, and Andrew May, Managing Director of Rofin-Baasel UK Ltd., will additionally be appointed Managing Director of ES Technology Ltd.
"This acquisition will further strengthen our market position, as it will provide a stronger geographical presence in the UK and further enhance our product portfolio," commented Gunther Braun, CEO & President of RSTI.
Dr. Greg Sharp-Dent added, "Our acquisition by Rofin-Baasel UK will open up new areas of business for ES Technology and Laser Service, which will support the future growth of our companies."
"ES's strengths will compliment Rofin-Baasel UK's extremely well", commented Andrew May, "This acquisition will allow us to offer a full range of solutions to our combined customer base; ranging from off-the-shelf products such as EasyMark, all the way up to custom-designed solutions for individual applications."
With operational headquarters in Plymouth, Michigan, and Hamburg, Germany, ROFIN-SINAR Technologies Inc. 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, Singapore and Japan, ROFIN-SINAR is one of the world's leading designers and manufacturers of industrial lasers and currently has more than 25,000 laser units installed worldwide and serves more than 3,000 customers. ROFIN-SINAR's shares trade on the NASDAQ National Market System under the symbol RSTI and are listed in Germany in the "Prime Standard" of the Frankfurt Stock Exchange under ISIN US7750431022. Additional information is available on ROFIN-SINAR's home page: http://www.rofin.com/.
Source: ROFIN-SINAR Technologies, Inc.
CONTACT: Katharina Manok, Gunther Braun, both of ROFIN-SINAR,
+1-734-416-0206, +49-40-733-63-256
Web site: http://www.rofin.com/
http://www.estechnology.net/
