Fonon Corporation Acquires Manufacturing Capability and Seasoned Personnel Expanding Operations as Part of the Company’s ‘2015 Reorganization Plan’
Fonon enhances the company’s value chain business model with the industry’s largest array of laser-based material processing equipment diversified across multiple markets including aerospace, defense, space, medical, automotive, energy and semiconductor sectors
Lake Mary, Florida, September 16th, 2015 (GLOBE NESWIRE)- Fonon Corporation (‘Fonon’) (OTC:FNON) is pleased to announce the acquisition of FTL, LLC supporting the company’s “2015 Reorganization Plan” transitioning from a development stage to a sustainable growth stage company. Fonon earlier announced its entrance into the metal Additive Manufacturing (AM) equipment space as an early stage development company. Fonon is the only USA company that designs/manufacturers 3D FUSION™ metal printing systems with proprietary technologies the company believes will provide metal printing manufacturers with the ability to move prototypes into a production environment. Subsequently, the company acquired the largest portfolio of industrial-grade laser-based material processing equipment in the industry under the brand, Laser Photonics, recognized by Fortune 500 companies over the last two decades. Today’ announcement continues to enhance shareholder value with the acquisition of FTL, LLC.
Key Accomplishments of the current acquisition:
- 55K square foot facility with first rights of refusal to expand capacity up to 274K square feet.
- Turnkey manufacturing production lines to support production of the company’s 3D FUSION™ metal printing systems and our family of Laser Photonics brand material processing equipment representing over 150 standard and specialized systems.
- Experienced personnel to support all company operations.
- Inventory will now be added to the company’s asset balance sheet.
Incorporating well developed families of cutting, marking & engraving equipment adds tremendous versatility to Fonon’s product portfolio strengthening the company’s position in the medical, automotive, aerospace, defense, semiconductor and energy markets.
The same market sectors in demand for next-generation 3D metal printing systems. The Laser Photonics brand of industrial-grade laser material processing equipment covers more than 80% of general industrial applications.
The Laser Photonics family of systems include:
LaserTower™ Family of Marking & Engraving Systems
click here for LaserTower Family
Titan Family of Laser Cutting Systems
click here for Titan Family
MarkStar Family of Portable Hand-Held Marking Systems
click here for MarkStar Family
click here for Canyon Family
About Fonon Corporation
Fonon Corporation is the recognized leader of industrial-grade 3D Additive and Subtractive laser-based material processing systems. Our systems are used world-wide in the semiconductor, flat panel display, automotive, aerospace, industrial, defense, electronic and medical industries with a portfolio of intellectual property, know how & inventions placing our company in the unique position to offer both 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.