IPG Photonics plans Oxford, Marlborough expansions after $3M land purchases
Photo | Matt Pilon
The Oxford headquarters of IPG Photonics.
Oxford laser equipment manufacturer IPG Photonics is planning a multi-year expansion of both its Oxford and Marlborough facilities after a string of recent property acquisitions totaling more than 30 acres earlier this year.
The company in February purchased two separate Oxford parcels - one on Federal Hill Road and another on Millbury Boulevard - for a combined $1.1 million.
In the same month, the company purchased about 13 acres in Marlborough for $1.8 million.
“We expect capital expenditures this year to increase over 2017 as we make investments to expand our global production capabilities and meet growing demand for our products over the next several years,” said James Hiller, vice president of investor relations, in an email.
Those planned investments include capacity expansions in both Oxford and Marlborough, Hiller said.
However, no specific plans or timelines were revealed.
The land purchases came during a record first quarter for the company, in which it made a profit of $106 million on revenues of $360 million.
The company reported about $970 million in cash and total assets of nearly $2.5 billion.
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