IPG Photonics wins laser contract with BMW

July 15, 2008

NEW YORK --IPG Photonics Corp., which makes lasers and amplifiers, said Tuesday a German subsidiary received an order for fiber laser systems from automaker BMW Group for an undisclosed price.

IPG Laser GmbH is expected to deliver the 63-kilowatt Ytterbium fiber laser system in the fourth quarter, IPG said. The fiber lasers will be used for welding doors at a new production line at BMW.

The lasers will be manufactured at IPG's facility in Burbach, Germany. IPG is based in Oxford, Mass.

Shares of IPG lost 22 cents to $17.75 in morning trading on Tuesday.