SANTA CLARA, Calif., June 13 /PRNewswire-FirstCall/ -- Coherent, Inc. today announced that it had acquired privately held TuiLaser AG (Munich, Germany) for approximately Euro 22.5 million, net of cash acquired. TuiLaser is a designer and manufacturer of excimer and advanced solid-state lasers for scientific, OEM medical, and industrial applications. For its fiscal year ending September 2004, TuiLaser recorded sales of approximately Euro 24.0 million.
The acquisition provides Coherent with a strong market presence in all classes of excimer lasers, from low to high power, in all markets with the exception of lithography. TuiLaser's product line also includes infrared and green solid-state lasers that compliment Coherent's solid-state laser products. TuiLaser has established a leadership position with its solid-state laser products in the growing area of identity card marking.
"We are particularly pleased that TuiLaser has joined Coherent," stated John Ambroseo, President and CEO of Coherent, Inc. "We intend to aggressively leverage our world-wide distribution network to expand sales opportunities, and our customers will benefit from our ability to provide the industry's broadest selection of products and solutions," Ambroseo added.
Martin Hohla, President of TuiLaser commented, "The TuiLaser team is proud to be part of a global industry leader with Coherent's reach and reputation. Joining forces with Coherent allows TuiLaser to further expand the customer base and provides the scale necessary to grow the business faster than as a stand-alone entity."
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act
The statements in this press release that relate to future plans, events or performance, including statements such as we intend to aggressively leverage our world-wide distribution network to expand sales opportunities, and joining forces with Coherent allows TuiLaser to further expand the customer base and provides the scale necessary to grow the business faster than as a stand-alone entity are forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties, including risks associated to currency adjustments, contract cancellations, manufacturing risks, competitive factors, and uncertainties pertaining to customer orders, demand for products and services, and development of markets for the Company's products and services and other risks identified in the Company's SEC filings. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update these forward-looking statements as a result of events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Readers are encouraged to refer to the risk disclosures described in the Company's reports on Forms 10-K, 10-Q and 8K, as applicable.
Founded in 1993, TuiLaser is a quality designer and manufacturer of compact excimer and advanced solid-state lasers for the scientific, OEM medical, and industrial markets. For more information about TuiLaser, visit the Company's Website at http://www.tuilaser.com/ .
Founded in 1966, Coherent, Inc. is a Standard & Poor's SmallCap 600 company and a world leader in providing photonics based solutions to the commercial and scientific research markets. Please direct any questions to Peter Schuman, Director Investor Relations at 408-764-4174. For more information about Coherent, visit the Company's Web site at http://www.coherent.com/ for product and financial updates.
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