COHR doing IPO on Lambda Physik susidiary.
Looks good for COHR up 3+ points to 77+!! Great looking chart.
Coherent, Inc. Announces Initial Public Offering For Its Lambda Physik, AG
Subsidiary
SANTA CLARA, Calif., Aug 28, 2000 /PRNewswire via COMTEX/ -- Coherent, Inc.
(Nasdaq: COHR) today announced its intentions for an initial public offering for
its 80% owned subsidiary, Lambda Physik, AG. The expected timing is for the
September to October timeframe. The proceeds of the offering will be used for
investment in the development of new technologies, the expansion of plant and
equipment, and the addition of personnel for the rapidly expanding deep
ultraviolet (DUV) lithography portion of Lambda Physik's business. Additionally,
the offering will provide greater visibility to both customers and the
investment community as to Lambda Physik's progress during this anticipated
rapid growth period.
The new issue is expected to be traded under the symbol LPX on the Neuer Markt,
the growth market for German equities based in Frankfurt, Germany. Coherent will
retain its position as the majority shareholder in Lambda Physik after the
offering with an anticipated holding of approximately 60%. This press release
does not constitute an offering of any securities for sale.
Lambda Physik is a worldwide manufacturer of high-power, pulsed-UV and tunable
laser sources for lithographic, industrial, scientific and medical applications.
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act
The statements in this press release that relate to future plans, events or
performance are forward-looking statements that involve risks and uncertainties,
including risks associated with uncertainties related to competitive factors,
uncertainties pertaining to customer orders, demand for products and services,
development of markets for Lambda Physik's products and services and other risks
identified in Coherent'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. Coherent
undertakes 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 the risk disclosures described in Coherent's
reports on Forms 10-K, 10-Q and 8K, as applicable.
Founded in 1966, Coherent, Inc. is a Standard & Poor's SmallCap 600 company and
a world leader in the design and manufacture of lasers and systems for
commercial, scientific, medical, and telecom markets. Please direct any
questions to Peter Schuman, Director of Investor Relations at (408) 764-4174.
For more information about Coherent, visit our Web site at cohr.com
for product and financial updates.
SOURCE Coherent, Inc.
CONTACT: Peter Schuman of Coherent, Inc., 408-764-4174
/Company News On-Call: prnewswire.com or fax,
800-758-5804, ext. 182802
URL: cohr.com
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