East Granby, Conn. – Nufern, a subsidiary of Rofin-Sinar Technologies Inc., a developer and manufacturer of high-performance laser beam sources and laser-based solutions, has acquired the Electro Optics fiber optic gyroscope coil winding business of Optelecom-NKF for $1.4 million and will operate it as part of Nufern.
Under the terms of the agreement, Optelecom-NKF will receive $1.15 million at the closing of the business deal, with the balance of $250,000 held in escrow, subject to completion of a technology transfer.
The Optelecom Electro Optics business unit makes high-precision fiber optic gyroscope coils as well as numerous telecom, payoff, and instrumentation-type dry and wet wound cored and coreless coils.
Nufern will initially operate the Optelecom Electro Optics business from the existing facilities in Germantown, MD, and will be expanded to include coil manufacturing from Nufern’s facility in East Granby, CT. Throughout this transition, Nufern will provide gyroscope and other fiber coils to both existing and future customers. In keeping with the Rofin philosophy, Nufern will continue to supply all of its products and services to customers and competitors alike.
"This is an important acquisition for Nufern, not only because we are adding new products to our portfolio but also because we are further strengthening our technology base and enhancing the vertical integration needed to economically manufacture all of our fiber-based products," said Martin Seifert, President of Nufern.
“I am very pleased with the fit of the Electro Optics business into Nufern,” said Ed Ludwig, recently retired founder & CEO of Optelecom. “Combining the fiber manufacturing of Nufern with the fiber coiling expertise of Optelecom will lead to many new and exciting innovations for the benefit of our combined customer base."
For more information, contact: Martin Seifert at firstname.lastname@example.org.