IPG Photonics Strengthens Commitment to Growing Asian Market

Dépèche transmise le 18 janvier 2011 par Business Wire

IPG Photonics Strengthens Commitment to Growing Asian Market

IPG Photonics Strengthens Commitment to Growing Asian Market

OXFORD, Mass.--(BUSINESS WIRE)--IPG Photonics Corporation (NASDAQ: IPGP), the global leader in high-performance fiber lasers for diverse applications, today announced that it has strengthened its commitment to Asia with the appointment of Trevor Ness as Vice President of Asian Operations. With the hiring of Mr. Ness, IPG seeks to continue the Company’s momentum, accelerate growth and expand its geographic reach in the region. The Asian market has become increasingly important to IPG, representing 42% of its total revenue in the first three quarters of 2010.

“Trevor’s appointment as VP of Asian Operations marks the beginning of an enhanced corporate presence for IPG in Asia”

Mr. Ness has a wealth of management experience in the laser and photonics field. Working out of IPG’s Beijing facility, he will support IPG’s growth momentum in Asia, and build the Company’s business across the region. Trevor joins IPG with more than 15 years of experience in Asia working with lasers and precision motion technologies in positions spanning sales, service and operations. Prior to joining IPG, Mr. Ness was the Director of GSI Precision Technologies China, a part of GSI Group.

“Trevor’s appointment as VP of Asian Operations marks the beginning of an enhanced corporate presence for IPG in Asia,” stated Chairman and Chief Executive Officer Dr. Valentin P. Gapontsev. “Asia sales have grown rapidly and we have made an important decision to establish a corporate presence in Asia. As head of the newly opened Asian corporate office, Trevor will be working with our country managers to ensure we capitalize on the existing opportunities in Asia and continue to leverage IPG’s strong competitive position with fiber lasers.”

Mr. Ness said, “The Asian markets continue to offer significant growth potential. IPG’s fiber lasers have superior beam quality, higher electrical efficiency and lower maintenance costs than other laser sources. The dramatically lower costs of ownership will aid our continued growth in Asia. I am fortunate to have the opportunity to work with IPG’s talented and highly engaged team in the region.”

About IPG Photonics Corporation

IPG Photonics Corporation is the world leader in high-power fiber lasers and amplifiers. Founded in 1990, IPG pioneered the development and commercialization of optical fiber-based lasers for use in a wide range of applications such as materials processing, advanced, telecommunications and medical. Fiber lasers have revolutionized the industry by delivering superior performance, reliability and usability at a lower total cost of ownership compared with conventional lasers, allowing end users to increase productivity and decrease operating costs. IPG has its headquarters in Oxford, Massachusetts, and has additional plants and offices throughout the world. For more information, please visit www.ipgphotonics.com.

Safe Harbor Statement

Information and statements provided by the Company and its employees, including statements in this press release, that relate to future plans, events or performance are forward-looking statements. These statements involve risks and uncertainties. Any statements in this press release that are not statements of historical fact are forward-looking statements, including, but not limited to, our expectations relating to: continuing IPG’s growth momentum, accelerating growth and expanding IPG’s geographic reach in Asia; building IPG’s business in Asia; the ability to capitalize on the existing opportunities in Asia and continuing to leverage IPG’s strong competitive position with fiber lasers; and IPG’s dramatically lower costs of ownership aiding continued growth in Asia. Factors that could cause actual results to differ materially include risks and uncertainties, including risks associated with the strength or weakness of the business conditions in industries and geographic markets that the Company serves, particularly the effect of economic downturns; reduction in customer capital expenditures; potential order cancellations and push-outs and financial and credit market issues; the Company’s ability to penetrate new applications for fiber lasers and increase market share; the rate of acceptance and penetration of IPG’s products; effective management of growth; level of fixed costs from its vertical integration; intellectual property infringement claims and litigation; interruption in supply of key components, including from transportation disruptions from natural and man-made events; manufacturing risks; inventory write-downs; foreign currency fluctuations; competitive factors, including declining average selling prices; building and expanding field service and support operations; uncertainties pertaining to customer orders; demand for products and services; development of markets for the Company's products and services; and other risks identified in the Company's SEC filings. Readers are encouraged to refer to the risk factors described in the Company's Annual Report on Form 10-K (filed with the SEC on March 15, 2010) and its periodic reports filed with the SEC, as applicable. Actual results, events and performance may differ materially. Readers are cautioned not to rely on the forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update the forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Business Wire

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