Preco Acquires LMI

Preco Industries, Inc. acquired Somerset, WI based Laser Machining, Inc. (LMI), a $20M manufacturer/integrator of high power laser systems for the metals, non-metals and converting markets. LMI, now designated as Preco Laser Systems, will complement Preco Industries’ development and sales of low power laser systems and operate as an independent organization with immediate accessibility to Preco’s far-reaching sales and distribution channels. Preco currently has equipment in 31 countries.

"We see the laser systems market as a growth opportunity. With the acquisition of LMI, which was spearheaded by the Preco Technology Venture Group responsible for overseeing strategic alliances and acquisitions, LMI becomes a major ingredient in our growth strategy and plans for technological expansion. With this acquisition we have positioned ourselves to capture new markets on a worldwide basis," states Jack Pierson, Preco Industries Chairman.

"This is a merging of two organizations that is perfectly timed for market conditions. Together, we provide the synergy that will benefit both Preco Industries and Preco Laser Systems customers. Economies of scale, expanded product offerings, greatly enhanced market coverage…it all works to the advantage of our respective customers," states Pat Austin, Preco Laser Systems President and CEO.

Preco Industries designs and manufactures high technology material processing equipment for end products that require maximum precision and accuracy.

For more information, contact Jack Pierson,Preco Industries, Inc., 913-541-0066 or Patrick Austin, Preco Laser Systems, LLC, 715-247-3285.