IPG Photonics Corp.

IPG Photonics CEO Valentin Gapontsev and the U.S. Department of the Treasury have reached an agreement on Russian-born and American citizen’s physicists complaint about being listed as a Russian oligarch.

IPG Photonics CEO Valentin Gapontsev and the U.S. Department of the Treasury, given until Friday to try to reach a resolution regarding Gapontsev’s name being included on a list of Russian oligarchs, apparently need more time. 

IPG Photonics CEO Valentin Gapontsev and the U.S. Department of the Treasury are requesting more time to settle the department’s labeling of Gapontsev as a Russian oligarch. 

Oxford fiber laser manufacturer IPG Photonics will invest nearly $17 million to open a 50,000-square-foot manufacturing center in Coventry, England.

IPG Photonics' growth in its CEO's home country of Russia has coincided with a $45 million investment in 2010 from a Russian government-backed business entity.

Oxford-based laser maker IPG Photonics saw first quarter profit decline 48% and revenues decline 12% year-over-year due to a challenging global economic picture.

Communities have often used tax deals to help companies in what officials say is the most important tool they can use in economic development.

The third quarter for Oxford-based IPG Photonics was even tougher than expected, as the company's preliminary financial results came in less than originally expected.

Gapontsev founded IPG Photonics in 1990 and has since created more than 1,500 jobs in Worcester County, and hundreds more could be on the way, as the company is eyeing expansion projects at its Oxford headquarters and Marlborough location.

Just two weeks after Oxford-based IPG Photonics announced a 2017 revenue growth of 40 percent, Standard & Poor's Dow Jones Indices announced the company will join the S&P 500 Index.