ITW Illinois Tool Works Inc

IPG Photonics Corporation (NASDAQ: IPGP), a global leader in fiber laser technology, and Miller Electric Mfg. LLC, a leading worldwide manufacturer of arc welding products, today announced a strategic partnership with a goal to further promote laser solutions for handheld welding applications.

The combination of IPG Photonics’ expertise in fiber laser technology and Miller’s extensive knowledge of the unique needs of traditional welding methods will bring ease of use, speed and precision, transforming the handheld welding process.

Welding Innovation

IPG Photonics and Miller Electric are renowned for their unwavering commitment to innovation and are synonymous with quality and reliability. The alliance will advance laser technologies for the handheld welding market and reshape the landscape of welding tools to provide welders with powerful, efficient, and precise solutions that meet the demands of modern welding applications. The partnership will deliver dependable solutions that welders can rely on for their critical tasks.

"We are excited to embark on this partnership with Miller Electric, as it allows us to pioneer new frontiers in handheld welding technology. Our combined expertise will empower welders with next-generation laser solutions that redefine what's possible in precision welding," said Trevor Ness, SVP Worldwide Sales and Strategic Business Development at IPG Photonics.

Industry Transformation

This partnership will usher in a new era of handheld welding solutions, offering welders access to next-generation laser technology by understanding and addressing their unique needs, ensuring that solutions are customized to suit their specific requirements. Both companies bring unique expertise to develop specific solutions to address customer challenges, and together they will further advance and bring to market products which are easy to learn and operate while offering unmatched benefits.

"Miller has a rich history of driving advancements in welding technology. Teaming up with IPG Photonics represents a significant step toward providing welders with state-of-the-art tools that enhance their capabilities," added Dave Lambert, group president of sales and marketing at Miller.

About IPG Photonics Corporation

IPG Photonics Corporation is the leader in high-power fiber lasers and amplifiers used primarily in materials processing and other diverse applications. The Company’s mission is to develop innovative laser solutions making the world a better place. IPG accomplishes this mission by delivering superior performance, reliability and usability at a lower total cost of ownership compared with other types of lasers and non-laser tools, allowing end users to increase productivity and decrease costs. IPG is headquartered in Marlborough, Massachusetts and has more than 30 facilities worldwide. For more information, visit www.IPGPhotonics.com.

About Miller Electric

Miller Electric Mfg. LLC, leads the welding industry in building advanced, solution-focused products designed to meet critical needs for welding applications in manufacturing, construction, aviation, agriculture, motorsports and other fabrication industries. With a legacy spanning decades, Miller Electric continues to push the boundaries of what is achievable in welding, earning the trust of professionals worldwide with products that help improve productivity and the welding environment in the most demanding applications. Miller Electric is headquartered in Appleton, Wisconsin, and wholly owned by Illinois Tool Works (NYSE: ITW). For more information, visit www.MillerWelds.com

Contact

Eugene FedotoffSenior Director, Investor RelationsIPG Photonics Corporation508-597-4713efedotoff@ipgphotonics.com