Comet completes capital increase, gains immediate benefit from Feinfocus
Sep 10, 2004
Comet Holding AG recently completed the sale of 100,000 new shares to existing shareholders and as a public offering. This increase in capital supports recent investments in X-ray technology, such as the acquisition of Feinfocus, as well as initiatives to strengthen the company's position in current product sectors.
Comet, the industry leader in components and systems for the growth markets such as security, quality control, and miniaturization, showed net sales of more than CHF 34.6 million for the first half of 2004, compared to CHF 27.5 million in 2003. Feinfocus, acquired by Comet in May, 2004, and a leading global manufacturer of X-ray inspection systems and tubes, has contributed more than CHF 2.4 million in sales and CHF 3.7 million in new orders to Comet's growth.
With the acquisition of Feinfocus, Comet has secured its entry into the miniaturization market in the field of X-ray technology, and is focused on broadening its technological offering from a component supplier to a subsystem and specialty microfocus system provider. Feinfocus has found an enthusiastic financial and technology partner to accelerate its development of next generation microfocus and nanofocus X-ray solutions.
"The partnership with Comet puts Feinfocus in a unique position in our industry," says Lance Scott, General Manager of Feinfocus USA. "Feinfocus will continue to lead the industry through technological prowess and a commitment to new product development. Our Global Headquarters in Germany will become our center of excellence for X-ray systems, while our offices in the Americas are clearly enhanced through the added resources from the acquisition. Immediate facility expansions are taking place to increase the demonstration, testing and repair facilities for both Comet and Feinfocus products."