Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit Completed
IPG Photonics Corporation, the world leader in the high power fiber laser industry.
Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit CompletedSuspend new investments and reduce manufacturing in Russia. Shipments from Russian laser manufacturer NTO IRE-Polyus to sister company IPG Photonics India increased by 62% year-on-year, and the latter’s receivables to the supplier more than doubled. IPG Photonics announced sale of a Russian unit: IPG Photonics sold its entire interest in its Russian unit IRE-Polus, marking its complete exit from Russia following trade sanctions imposed since the start of the war with Ukraine. IPG is netting $51 million in proceeds from the sale to Softline Projects and current management of IRE-Polus. 09.2024: BVPG LLC becomes the new founder of the organization. The entry about the founders IPG PHOTONICS CORPORATION and IPG LASER GMBH & CO. KG has been removed from the Unified State Register of Legal Entities.