Trumpf establishes new business division following Philips Photonics acquisition

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Laser manufacturer Trumpf has established a new business division, ‘Trumpf Photonic Components’, following its acquisition of Photonics GmbH from Philips, which was completed on 1 April.

The new business division will be headed up by Lutz Aschke, who has been CFO of laser technology at Trumpf since 2016, and Joseph Pankert, who has been general manager of Philips Photonics since 2009.

Founded in 2000, Photonics GmbH has around 280 employees and is headquartered in Ulm, Germany, where it manufactures laser diodes in a dedicated production plant. Now, it is set to continue growing as part of Trumpf.

The acquisition will enable Trumpf to gain access to a new market segment that will complement its existing high-power diode laser business. Philips Photonics’ laser diodes are used in smartphones, in digital data transfer applications and in sensors for autonomous driving.

Trumpf secures loan of 250 million

Trumpf has also successfully placed a promissory loan note for 250 million. The proceeds will provide long-term financing for the company’s overall development and, in particular, help support its operating growth. The total volume of the loan is spread across various tranches, with maturities of five, seven and ten years. The average interest rate is just below under one per cent. The company originally planned to place a loan volume of 150 million, however exceptionally strong demand from investors and a heavily oversubscribed order book prompted Trumpf to scale up the loan amount.

'The promissory note loan will grant us long-term financial leeway, especially to underpin Trumpf's further growth,' said Lars Grünert, CFO and a member of the group management team at Trumpf. 'The strong interest from investors is a vote of confidence in Trumpf's sound finances, its business model and its strategic orientation. At the same time, the placement allows us to put our finances on a broader footing at very favorable terms and conditions.'

Image caption: Automatic optical inspection in laser diode production at Photonics GmbH. (credit: Trumpf)







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