UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 20, 1998
ROFIN-SINAR TECHNOLOGIES, INC.
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(Exact name of registrant as specified in its charter)
Delaware 000-21377 38-3306461
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(State of other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
45701 Mast Street, Plymouth, MI 48170
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(Address of principal executive offices) (Zip Code)
(734) 455-5400
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(Registrant's telephone number, including area code)
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(Former name, former address and former fiscal year,
if changed since last report)
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ITEM 5 - OTHER EVENTS
The registrant, as of January 20, 1998, announced the formation of a new
UK-based company, Rofin-Sinar UK Ltd., to develop and manufacture a new
range of low-power lasers, to complement its existing portfolio of
products. As part of its investment in the UK company, Rofin-Sinar
Technologies Inc. has entered into a definitive agreement to acquire the
business assets of Palomar Technologies Ltd., Kingston upon Hull, UK, a
wholly owned subsidiary of Palomar Medical Technologies, Inc. (NASDAQ:
PMTI). Terms of the acquisition were not disclosed.
The registrant released a press release on January 20, 1998 to disclose the
above information per the attached exhibit.
ITEM 7 - FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
A) Not Applicable
B) Not Applicable
C) Exhibits:
99 Press Release dated January 20, 1998
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ROFIN-SINAR TECHNOLOGIES, INC.
By: /s/ GUNTHER BRAUN
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Gunther Braun
Chief Financial Officer
Dated: February 2, 1998
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PRESS RELEASE
ROFIN-SINAR EXPANDS PRODUCT RANGE INTO LOW-POWER CARBON-DIOXIDE LASERS.
Hamburg, Germany/Plymouth MI, January 20,1998 - Rofin-Sinar Technologies,
Inc., (NASDAQ: RSTI), one of the world's leading developers and
manufacturers of high performance laser beam sources, today announced the
formation of a new UK-based company, Rofin-Sinar UK Ltd., to develop and
manufacture a new range of low-power lasers, to complement its existing
portfolio of products. As part of its investment in the UK company, Rofin-Sinar
Technologies Inc. has entered into a definitive agreement to acquire
the business assets of Palomar Technologies Ltd., Kingston upon Hull, UK, a
wholly owned subsidiary of Palomar Medical Technologies, Inc. (NASDAQ:
PMTI). Terms of the acquisition were not disclosed.
The new range of products is based on sealed gas laser expertise and
proprietary diffusion cooled Slab laser technology to produce CO2 lasers in
the range 25 to 600 Watts. As the current Rofin-Sinar Slab technology
starts at 1000 Watts output power, these new lasers will complete the
product offering and allow the company access to new market opportunities
in lower power laser processing. The new UK company is formed by transfer
of experienced personnel from Palomar Technologies Ltd. to the new entity.
According to Laser Report (January 1998) the market for sealed low-power
CO2 lasers for material processing was approximately 60 million US dollars
in 1997 and is expected to increase 20% in 1998. Low power CO2 lasers are
typically used for cutting (paper, glass, plastics) and marking, but the
increasing demand for rapid prototyping is expected to open up new market
opportunities in the future. The UK-based new venture positions Rofin-Sinar
to leverage its extensive materials processing experience to grow its
profile in the low-power CO2 laser market.
Headquartered in Plymouth, Michigan, and Hamburg, Germany, Rofin-Sinar
Technologies, Inc. designs, develops, engineers and manufactures industrial
laser products for cutting, welding and marking a wide range of materials.
With production facilities in the US, Germany and Japan, Rofin-Sinar is one
of the world's leading designers and manufacturers of industrial lasers;
Rofin-Sinar's common shares trade on the NASDAQ National Market System
under the symbol RSTI. Additional information is available on Rofin-Sinar's
home page: http://www.rofin-sinar.com.
Palomar Medical Technologies, Inc. is a leading supplier of proprietary
laser systems for dermatological and cosmetic laser treatments. Palomar
Medical Technologies' common shares trade on the NASDAQ Small Cap Market
under the symbol PMTI.
The statements in this press release that relate to future plans, events or
performance are forward-looking statements that involve risks and
uncertainties related to contract cancellations, manufacturing risks,
competitive factors, uncertainties pertaining to customer orders, demands for
products and services, 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 takes no obligation to
release publicly the result of any revisions to these forward-looking
statements that may be made to reflect events or circumstances after the
date hereof or to reflect the occurrence of unanticipated events.
Readers are encouraged to refer to risk disclosures outlined in the
Company's reports on Forms 10-K, 10-Q and 8K, as applicable.
