Saxonburg-based Coherent Corp., a photonics provider, recently announced it entered into a definitive agreement to sell its product division to Illinois-based Bystronic, an international sheet metal processing technology company.
Coherent will be selling a German-based division that manufactures and sells tools for materials processing. The division employs approximately 400 people and generates approximately $100 million in annual sales. The company will use proceeds from the sale to reduce debt.
“We are pleased to have reached this agreement with Bystronic,” Jim Anderson, Coherent CEO, said. “This transaction is the result of our portfolio review process, and furthers our strategy to concentrate efforts on core growth markets and products.”
The deal is expected to close in early 2026, subject to customary closing conditions.
Coherent also has Pennsylvania locations in Pittsburgh and Warrendale. It operates in more than 20 countries through its research and development, manufacturing, sales, service, and distribution facilities.
Bystronic Inc. is the North American subsidiary of Swiss-based Bystronic group. It serves the United States, Canada, Mexico, and Brazil. The group employs approximately 3,000 people worldwide and operates eight development and production locations in Switzerland, the United States, Germany, Italy and China.
Bystronic’s portfolio includes automation, software, and service solutions. It has sales and service subsidiaries in more than 30 countries.