Rofin-Sinar

Rofin Sinar Technologies Inc.
Public - NASDAQ:RSTI
ISIN US7750431022
Industry Industrial Lasers
Founded 1975
Headquarters Plymouth, Michigan, United States
Area served
 Worldwide
Key people
 Thomas Merk (CEO), Ingrid Mittelstädt (CFO)
Revenue Decrease US$ 519.643 million (2015)
Increase US$ 41.258 million (2015)
Number of employees
 Decrease 2,231 (2015)
Website rofin.com
Footnotes / references
[1]

ROFIN-SINAR Technologies Inc. is a US company based in Plymouth, Michigan, that develops, manufactures and sells laser sources and laser-based solutions for industrial material processing.

Since 1996, ROFIN-SINAR Technologies’ shares have traded on the NASDAQ Stock Exchange. In addition, in July 2001, RSTI was listed on the German "Prime Standard" segment of the Frankfurt Stock Exchange under the ISIN US7750431022.

With its wide range of laser sources, including CO2 lasers, fiber lasers, solid-state, diode and various q-switch lasers, ROFIN is one of the market leaders in laser technology worldwide.[2]

In the recent proxy contest between Rofin and SilverArrow the two leading proxy firms (ISS and Glass Lewis) are supporting the SilverArrow proposals. The March 17, 2016 stockholders meeting will be a cornerstone for the companies future development.

History

The company was founded 1975 in Hamburg, Germany as “SINAR Laser Systeme Verkaufsgesellschaft mbH”. Sinar is the Sanskrit for “beam of light”, but this name was already used by another Swiss company. By taking over the British enterprise Rofin, the company changed its name to ROFIN-SINAR Laser GmbH.[3]

In the beginning of the 1980s, ROFIN started the development and production of its own lasers in Hamburg. ROFIN first entered the Japanese market by establishing a joint venture with the Japanese company Marubeni. In 1987, ROFIN-SINAR became a wholly owned subsidiary of Siemens AG. Siemens completed the venture in 1988 with the acquisition of the industrial laser category of Spectra Physics Inc., USA and the German laser marking company Laser-Optronic GmbH.

Being the first 100% corporate spin-off of Siemens, ROFIN went public and was listed on the NASDAQ Stock Exchange under the symbol “RSTI” in 1996. Since July 2001, the company is listed in Germany on the "Prime Standard" segment of the Frankfurt Stock Exchange as well. From March 2004 to March 2010, ROFIN figured on the TecDAX sampling index.

In recent history Rofin has come under significant pressure by an investor (SilverArrow Capital) to exchange the companies independent directors based on questions on compliance and below average management performance. SilverArrow, a London-based activist investment firm, currently one of the largest shareholders of the company, claiming in various public letters (SEC filing 14A Oct. 8 & 14A Oct. 28) that the company is lacking an adequate growth strategy and has missed market opportunities for years. The shareholders will have a final vote on the claim in the upcoming Annual General Meeting according to Bloomberg.

References

  1. ↑ U.S. Securities and Exchange Commission (2015). Washington, D.C.: United States of America. Part II, Item 6 http://www.sec.gov/Archives/edgar/data/1019361/000101936115000073/a2015930-10k.htm. Retrieved March 16, 2016. Missing or empty |title= (help)
  2. ↑ Overton, Gail; Hausken, Tom; Belforte, David A.; Holton, Conrad. "Annual Review". Laser Focus World. Retrieved 4 December 2012.
  3. ↑ "History of Rofin-Sinar". Reference for Business. Retrieved 4 December 2012.
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