SANTA CLARA, Calif., April 24 /PRNewswire-FirstCall/ -- Coherent, Inc.
(Nasdaq: COHR) today announced that it has acquired privately held Nuvonyx,
Inc., (Saint Louis, MO). Nuvonyx is a technology leader in high-power
(powers in excess of 1 Kilowatt) laser diode components, arrays, and
industrial laser systems for materials processing and defense applications.
Nuvonyx produces the highest power arrays commercially available with
powers in excess of 50 Kilowatts through its proprietary cooling and
stacking technologies. The industrial laser systems are used for cladding
and hardening of metals, joining materials, and other materials processing
applications. Other near-term applications include welding of plastics and
direct metal welding. Combined with Coherent's capability in laser diode
bars, this acquisition represents both a vertically integrated and more
cost effective approach than fiber lasers for certain applications.
"The addition of Nuvonyx marks Coherent's entry into the high-power
materials processing market, an area with potential for significant
long-term growth," said John Ambroseo, President and Chief Executive
Officer of Coherent, Inc. "Nuvonyx's product and technical capabilities are
an excellent enhancement to our arrays and components product lines, and
provide the ability to pump our lasers at increasingly higher powers. We
look forward to leveraging our worldwide distribution network, allowing our
customers to benefit from the laser industry's broadest selection of laser
components and this new range of high-power industrial lasers," Ambroseo
added.
Dr. Mark Zediker, Founder, President and CEO of Nuvonyx commented, "The
employees at Nuvonyx are excited to be part of a global industry leader
with Coherent's scale and reputation. By combining with Coherent, Nuvonyx
will be able to make an impact on the high-power laser systems and
components market much faster than as a stand-alone entity."
The statements in this press release that relate to future plans,
events or performance, including statements such as the availability of
near-term applications, the acquisition representing a more cost effective
approach than fiber lasers, the ability to leverage Coherent's distribution
network and customer benefits therefrom, are forward-looking statements.
Factors that could cause actual results to differ materially include risks
and uncertainties, including risks associated with general market and
business conditions, determinations by Coherent to utilize its cash in ways
other than acquisition integration, 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 Registration Statement on Form S-3 (as amended and filed with
the SEC on October 4, 2006) and the reports on Forms 10-K, 10-Q and 8-K, as
applicable and as filed from time-to-time by the company.
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.
SOURCE Coherent, Inc.
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Related links:
http://www.coherent.com/
CONTACT:
Peter Schuman of Coherent, +1-408-764-4174
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