Oxford laser equipment manufacturer IPG Photonics has purchased 10 acres of land just four miles away from its current headquarters.
The sale, announced by real estate brokers Kellher & Sadowsky, closed Thursday.Â
IPG purchased the 38 Federal Hill Road property for $375,000 from Providence asphalt and gravel company Hudson Terminal Corp., according to Registry of Deeds records. The property is significantly smaller than the 34 acres on Old Webster Road where the company operates its headquarters.
The sale closed just one day before the company announced its earnings for 2017, which included a profit of $347.6 million on revenues of $1.4 billion.Â
A company spokesperson could not immediately be reached for comment on the land purchase.
