Han’s Laser expands with CorActive partnership
QUEBEC CITY, Nov. 7, 2016 — CorActive High-Tech, a private manufacturer of specialty optical fiber and fiber laser modules, has entered into a strategic partnership with Han’s Laser Technology Group Co. Ltd., a China-based laser equipment manufacturer. This comes after receiving an investment from the company whose annual revenues reach the $1 billion mark.
CorActive is now a subsidiary of Han’s Laser, which has acquired a majority of the company. CorActive will remain independent and will continue its current operation in Quebec City, Quebec, Canada.
"This is beneficial for both sides and emphasizes the complementarity of both parties," said Jean Dubé, president and CEO of CorActive. "One of the main components needed for our laser modules can now be sourced internally, greatly reducing our production cost."
For Han's Laser, CorActive will help boost its capabilities in fiber laser manufacturing and expand into new applications and geographies.
"We have worked with Han's Laser for a number of years already. Han's Laser acquiring CorActive will be positive as it will propel and support us to become a more competitive player in the fiber laser module market," Dubé said . "Everything will continue as planned. We will keep our current operation and will continue developing our current markets.”
CorActive's solutions are currently used for industrial, sensing, telecommunications and medical applications.
Han’s Laser Technology Group Co. Ltd. is a laser machine manufacturer that offers laser processing solutions for the automotive, IT and solar industries, among others.
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