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PowerShares National AMT-Free MuniBd ETF Message Board

hjw38 6 posts  |  Last Activity: May 2, 2016 7:57 PM Member since: Jul 9, 2003
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  • The Govt. is not rubber-stamping mergers anymore. I don't think that approval of the RSTI acquisition is a foregone conclusion.

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    M&A in this space

    by jmeuva Mar 17, 2016 9:07 AM
    hjw38 hjw38 May 1, 2016 2:24 PM Flag

    COHR's OLED processing excimer lasers use their VYPER series with UV output power in the several kW range. I doubt that diode driven (~800 nm) fiber lasers can be unconverted to UV and reach comparable power and energy levels of VYPER lasers. The required nonlinear crystals have efficiency, power and energy limitations. But my knowledge is very limited in this area and would I appreciate any comments.

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    M&A in this space

    by jmeuva Mar 17, 2016 9:07 AM
    hjw38 hjw38 Apr 29, 2016 5:11 PM Flag

    I searched IPGP's web site for Excimer lasers and UV sources and nothing but fiber lasers came up. Can you refer me to their UV acquisitions? They certainly have the resources to buy the technology and eventually compete in OLED and LTPS fab. It's a smaller market than materials processing so it may not be a good investment given COHR's lead. In high energy laser material processing there are IPGP, Trumpf and RSTI. Based on IPGP's growth I assume they must be winning against CO2 so you may be right about RSTI being a bad deal for COHR. Is there evidence that processors are replacing CO2 with fiber lasers, or is the installed CO2 base stable?

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    M&A in this space

    by jmeuva Mar 17, 2016 9:07 AM
    hjw38 hjw38 Apr 28, 2016 11:08 PM Flag

    COHR bought a German company that specializes in excimer lasers, quite a while ago. They have developed a very high power UV light source (and perhaps specialized pulse shapes) that together with the right UV optics produce ultra-small resolution elements over relatively large areas, for fabricating digital displays (smart phones, etc.). I think what they now have is analogous to what Cymer did with photolithography. Can fibre lasers, which start out with near-IR semiconductor laser sources, produce the UV frequencies and powers to match excimer lasers, and at lower cost? Probably not, because they need non-linear crystals to up-convert and that costs in dollars and efficiency. So, to compete IPGP probably has to develop, or buy, excimer laser and UV optics capability.

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    M&A in this space

    by jmeuva Mar 17, 2016 9:07 AM
    hjw38 hjw38 Apr 28, 2016 1:32 PM Flag

    COHR already sells fibre lasers, in the one to several kW range, I believe. I'm not familiar with RSTI's fibre laser products. COHR fabricates their own doped fibers and has excellent semiconductor diode laser fab facilities, so they have all the building blocks. RSTI has experience in multi-kW CO2 lasers.

  • Reply to

    M&A in this space

    by jmeuva Mar 17, 2016 9:07 AM
    hjw38 hjw38 Apr 27, 2016 10:43 AM Flag

    I think the COHR-RSTI combination may give IPGP competition in the high-power fiber laser market. Any opinion?

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