SANTA CLARA, Calif., June 13 /PRNewswire-FirstCall/ -- Coherent, Inc.
(Nasdaq: COHR) 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.
SOURCE Coherent, Inc.
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Related links:
http://www.coherent.com
CONTACT:
Peter Schuman of Coherent, Inc.,
+1-408-764-4174
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