Han's Laser Technology Industry Group, a Chinese laser giant with annual revenues of $1 billion, has acquired the majority of Canadian optical fibre and fibre laser manufacturer, CorActive High-Tech. According to the company, the move represents a ‘small but highly strategic acquisition’ to help boost its capabilities in fibre laser manufacturing and to help the group expand into new applications and geographical regions.
CorActive High-Tech became a subsidiary of the Chinese group effective of 3 November. The Canadian company has remained independent and will continue its current operation at its headquarters in Quebec, with its solutions currently being used for industrial, sensing, telecommunications and medical applications.
‘This [acquisition] is beneficial for both sides and emphasises the complementarity of both parties’, said Jean Dubé, president and CEO of CorActive High-Tech. ‘One of the main components needed for our laser modules can now be sourced internally, greatly reducing our production cost.’
Han’s Laser has previously demonstrated its desire to expand into new applications. Last April, together with AVIC International Aero-development and AVIC International Capital, Han’s Laser acquired a 95 per cent ownership of Aritex Cading, a worldwide supplier of automatic assembly systems. Through the acquisition, Han’s Laser expected to gain access to Aritex’s patented technologies and expand into the aviation and military sectors. Both acquisitions convey the continuing high performance of Chinese laser firms, reported earlier this year.
The acquisition will not only enable further growth for the Chinese Laser group, but 'will propel and support us to become a more competitive player in the fibre laser module market’, emphasised Dubé of CorActive. ‘Everything will continue as planned. We will keep our current operation and will continue developing our current markets’.