Fonon Corporation to capitalize on the laser-based Materials Processing Market forecasted to be a $17.26B USD industry by 2020. Fonon expects the merger to generate $5M in 2016 revenue in this market segment alone.
LAKE MARY, Fla., Oct. 14, 2015 (GLOBE NEWSWIRE) -- Fonon Corporation (“Fonon”) is pleased to announce it has filed an SEC 8K closing the acquisition of Applied Photonics. The company now owns the exclusive rights to more than 100 standard and specialized systems supporting the laser-based Materials Processing Market that is projected to reach $17.26B USD by 2020. The merger is expected to generate $5M in 2016 revenue in this laser-based systems market alone.
We believe with this acquisition, Fonon’s laser based Material Processing Systems support more than 75% of standard laser applications in virtually any market involving manufacturing. All standard systems and the majority of specialized systems use the same interchangeable building block components and subassemblies as part of the company’s Value-Chain Business Approach.
As part of the ‘2015 Reorganization Plan’, Fonon announced the company will focus on three major growth markets, namely; 3D Metal Additive Manufacturing (AM), Flat Panel Display, and Laser-based Materials Processing. All three sectors align with Fonon’s Multi-Market strategy supporting the aerospace, medical, defense, space exploration, automotive, industrial, semiconductor, and energy markets.
About Fonon Corporation
Fonon Corporation is a manufacturer of industrial-grade Additive and Subtractive laser-based Material Processing Systems with experienced R&D Center developing new technologies. Our systems are used world-wide in the semiconductor, flat panel display, automotive, aerospace, industrial, defense, electronic and medical industries with a portfolio of patents, inventions, intellectual property (IP) and knowhow placing our company in the unique position to offer standard 3D material processing systems or our specialty of tooling 3D laser-based transforming systems designed around the unique applications of our customers.
To learn more about Fonon Corporation, visit: http://fonon.us
Notice Regarding Forward-Looking Statements:
NOTE: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 involving risks and uncertainties. Results, events and performances could vary from those contemplated. These statements involve risks and uncertainties which may cause results, expressed or implied, to differ from predicted outcomes. Risks and uncertainties include but are not limited to product demand, market competition and the company’s ability to meet current and future plans. Investors should study and understand all risks before making an investment decision. Readers are recommended not to place undue reliance on forward-looking statements or information. Fonon is not obligated to publicly release revisions to any forward-looking statement, to reflect events or circumstances afterward, or to disclose unanticipated occurrences except as required under applicable law.