LUMONICS BUYS INDUSTRIAL ASSETS OF COHERENT HULL LTD.
SANTA CLARA, Calif., July 6 /PRNewswire/ -- Coherent Inc. (NASDAQ: COHR) and Lumonics Inc. (Ottawa, Canada) announced today the signing of an agreement providing for the purchase by Lumonics of the industrial marking business of Coherent Hull Limited, a wholly owned subsidiary of Coherent, located in Hull, England. Coherent Hull manufactures and sells carbon dioxide laser marking systems. Coherent retained the assets relating to Coherent Hull's medical business. As part of the transaction, Lumonics was licensed to manufacture and to incorporate Coherent's Diamond(TM) laser into their industrial marking systems. Financial terms of the transaction were not announced. The purchase was made by Lumonics Ltd., the U.K. subsidiary of Lumonics and the company's European headquarters. According to Bob Atkinson, chairman and chief executive officer of Lumonics, "The innovative XYMark(TM) product line developed and manufactured at Coherent Hull will greatly enhance Lumonics' world-class product portfolio for industrial laser marking applications, and strengthen its market leadership position." Hank Gauthier, president of Coherent, said, "This transaction is consistent with our strategic decisions to focus our attention on developing and selling lasers and systems for medical, scientific, OEM and micromachining applications." Coherent is recognized as a world leader in the design, manufacture and marketing of lasers for medicine, science and industry. Direct any questions to Robert J. Quillinan, vice president and chief financial officer, at 408-764-4168. Lumonics is an international technology company specializing in the development, manufacture and support of laser-based solutions for industrial applications. The company's global operations include facilities in Canada, United States, Europe, Japan and S.E. Asia. Any questions should be directed to Douglas J. James, president and chief operating officer of Lumonics, at 613-592-1460. -0- 7/6/93 /CONTACT: Robert J. Quillinan of Coherent, 408-764-4168/ (COHR)
CO: Coherent Inc.; Lumonics Inc.; Coherent Hull Ltd. ST: California, Ontario IN: CPR MTC SU: TNM
TM-LH -- SJ002 -- 8775 07/06/93 16:30 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||Jul 6, 1993|
|Previous Article:||Centre Financial Products Announces|
|Next Article:||TAB PRODUCTS REPORTS FOURTH QUARTER AND 1993 RESULTS|