LAKE MARY, Fla., Sept. 16, 2015 (GLOBE NEWSWIRE) -- Fonon Corporation (‘Fonon’) (OTC:FNON) is pleased to announce the acquisition of FTL, LLC supporting the company’s “2015 Reorganization Plan” transitioning from a development stage to a sustainable growth stage company. Fonon earlier announced its entrance into the metal Additive Manufacturing (AM) equipment space as an early stage development company. Fonon is the only USA company that designs/manufacturers 3D FUSION™ metal printing systems with proprietary technologies the company believes will provide metal printing manufacturers with the ability to move prototypes into a production environment. Subsequently, the company acquired the largest portfolio of industrial-grade laser-based material processing equipment in the industry under the brand, Laser Photonics, recognized by Fortune 500 companies over the last two decades. Today’s announcement continues to enhance shareholder value with the acquisition of FTL, LLC.
Key Accomplishments of the current acquisition:
- 55K square foot facility with first rights of refusal to expand capacity up to 274K square feet.
- Turnkey manufacturing production lines to support production of the company’s 3D FUSION™ metal printing systems and our family of Laser Photonics brand material processing equipment representing over 150 standard and specialized systems.
- Experienced personnel to support all company operations.
- Inventory will now be added to the company’s asset balance sheet.
Incorporating well developed families of cutting, marking & engraving equipment adds tremendous versatility to Fonon’s product portfolio strengthening the company’s position in the medical, automotive, aerospace, defense, semiconductor and energy markets. The same market sectors in demand for next-generation 3D metal printing systems.
The Laser Photonics brand of industrial-grade laser material processing equipment covers more than 80% of general industrial applications.
About Fonon Corporation
Fonon Corporation is the recognized leader of industrial-grade 3D Additive and Subtractive laser-based material processing systems. Our systems are used world-wide in the semiconductor, flat panel display, automotive, aerospace, industrial, defense, electronic and medical industries with a portfolio of intellectual property, knowhow & inventions placing our company in the unique position to offer both standard 3D material processing systems or our specialty of tooling 3D laser-based transforming systems designed around the unique applications of our customers.
To learn more about Fonon Corporation, visit: http://fonon.us
CONTACT INFORMATION Robert Anthony Investor Relations 407-477-5618 x1010