September 9, 2008--Rofin-Sinar Technologies (Plymouth, MI and Hamburg, Germany), developer and manufacturers of laser sources and solutions, will acquire 80% of the share capital of China-based Nanjing Eastern Laser Company (NELC) in two separate transactions. Jointly established by Nanjing Sanle Group (China) and SIDA Corporation (U.S.) in 1993, NELC has over two decades of experience in the Chinese laser market and has maintained close cooperation with Rofin-Sinar.
In one transaction, that was processed through a Chinese equity transfer center's formal
bidding process, the Company will acquire 35.2% of NELC's share capital from Nanjing Sanle Group; Rofin-Sinar was the only bidder when the bidding period ended on September 3, 2008. In a second transaction, Rofin-Sinar acquired an additional 44.8% of the share capital of NELC from SIDA Corporation. Both transactions will be funded with Rofin-Sinar's existing cash position and are expected to close within 4-6 weeks. Further terms of the acquisition have not been disclosed.
NELC has been authorized to manufacture CO2 lasers using Rofin-Sinar's technological know-how since 2004. NELC has approximately 70 employees and is ISO 9001-2000 certified; it will continue to operate as a stand-alone company and market its products through its own sales network to its primarily Chinese customer base.
For more information, visit www.rofin-sinar.com.
For related articles on relatively recent Rofin-Sinar acquisitions, see: Rofin-Sinar to acquire Nufern and Rofin-Sinar acquires 80% of m2k-laser GmbH, a manufacturer of high-power laser diodes.