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IPG Photonics Strengthens Management Team to Capitalize on Growth Opportunities

  IPG Photonics Strengthens Management Team to Capitalize on Growth
  Opportunities

 Appointments Enhance IPG’s Strategic Marketing, Acquisition and Global Sales
                                 Initiatives

Business Wire

OXFORD, Mass. -- March 1, 2013

IPG Photonics Corporation (NASDAQ: IPGP) today announced three senior
management appointments focused on strengthening the Company’s worldwide sales
and marketing efforts. Trevor Ness has been promoted to Senior Vice President
Worldwide Sales and Marketing and will continue to supervise the Asian
operations. Also, David Gray was appointed Vice President – Strategic
Development & Systems Solutions; and Yuri Erokhin was appointed Vice President
– Strategic Marketing.

“We are strengthening our management team with three experienced professionals
who have demonstrated their expertise and success in helping to expand
business opportunities and grow sales,” said Dr. Valentin Gapontsev, IPG
Photonics’ Chief Executive Officer. “Trevor Ness has been successful at IPG in
establishing strong relationships with OEMs in Asia, as well as improving
service and the effectiveness of the sales force there. David Gray has a
proven track record of driving rapid growth through organic product
development, strategic acquisitions and operational execution. Yuri Erokhin
has a strong scientific background that he has applied to the development of
sophisticated marketing strategies to identify and secure new business
opportunities. We look forward to their combined contributions as we enhance
our product portfolio, enter new applications and geographies and generate
profitable long-term growth.”

Trevor Ness joined IPG in January 2011 as Vice President - Asian Operations,
and successfully managed double digit growth in China, Japan and Korea. Prior
to 2011, he served as Director of GSI Precision Technologies China at GSI
Group, where he was responsible for all business activity in China, including
manufacturing, sales, service and market development. From 1997 until 2005,
Ness served in various senior management sales and operations roles in the UK
and Asia with GSIL Asia Pacific, Westwind Japan, and Westwind Air Bearings
Ltd. Ness earned a BSc in Geology from Imperial College London, an HNC in
Production Engineering from Bournemouth University, and an MBA (Technology
Management) from The Open University.

David Gray joins IPG from GT Advanced Technologies, where he served in
multiple roles, most recently as its Chief Strategy & New Business Officer.
Prior to that, he served as a senior M&A advisor to the photonics and
electronics markets with Alliant Partners and Broadview. Early in his career,
Gray also co-founded Aspect International, Inc., and served as a senior
engineer with Raychem in its display products group. David earned a Ph.D. in
Chemical Engineering from Massachusetts Institute of Technology, an MBA from
Stanford University Graduate School of Business, and a B.S. in Chemical
Engineering from Carnegie-Mellon University.

Yuri Erokhin joins IPG from Applied Materials/Varian Semiconductor Equipment
where he has worked since 2003 and served as Senior Director, Strategic
Marketing since 2006. Prior to working at Applied Materials, he was Vice
President of Wafer Technology at IBIS Technology Corp. From 1995 to 2000,
Erokhin was at Axcelis Technologies Corp., where he was Director of Process
Technology. Before that, Erokhin worked as a research scientist at various
institutions since 1980. Erokhin earned an M.S. with Honors in Quantum
Electronics (Lasers) from the Moscow Physical-Technical Institute and a Ph.D.
in Microelectronics Technology from the Russian Academy of Sciences, Moscow.

About IPG Photonics Corporation

IPG Photonics Corporation is the world leader in high-power fiber lasers and
amplifiers. Founded in 1990, IPG pioneered the development and
commercialization of optical fiber-based lasers for use in diverse
applications, primarily materials processing. Fiber lasers have revolutionized
the industry by delivering superior performance, reliability and usability at
a lower total cost of ownership compared with conventional lasers, allowing
end users to increase productivity and decrease operating costs. IPG has its
headquarters in Oxford, Massachusetts, and has additional plants and offices
throughout the world. For more information, please visit www.ipgphotonics.com.

Safe Harbor Statement

Information and statements provided by the Company and its employees,
including statements in this press release, that relate to future plans,
events or performance are forward-looking statements. These statements involve
risks and uncertainties. Any statements in this press release that are not
statements of historical fact are forward-looking statements, including, but
not limited to, enhancing the Company’s product portfolio, entering new
applications and geographies and generating profitable long-term growth.
Factors that could cause actual results to differ materially include risks and
uncertainties, including risks associated with the strength or weakness of the
business conditions in industries and geographic markets that the Company
serves, particularly the effect of economic downturns; reduction in customer
capital expenditures; potential order cancellations and push-outs and
financial and credit market issues; the Company’s ability to penetrate new
applications for fiber lasers and increase market share; the rate of
acceptance and penetration of IPG’s products; effective management of growth;
level of fixed costs from its vertical integration; intellectual property
infringement claims and litigation; interruption in supply of key components,
including from transportation disruptions from natural and man-made events;
manufacturing risks; inventory write-downs; foreign currency fluctuations;
competitive factors, including declining average selling prices; building and
expanding field service and support operations; uncertainties pertaining to
customer orders; demand for products and services; development of markets for
the Company's products and services; and other risks identified in the
Company's SEC filings. Readers are encouraged to refer to the risk factors
described in the Company's Annual Report on Form 10-K (filed with the SEC on
February 27, 2012) and its periodic reports filed with the SEC, as applicable.
Actual results, events and performance may differ materially. Readers are
cautioned not to rely on the forward-looking statements, which speak only as
of the date hereof. The Company undertakes no obligation to update the
forward-looking statements that may be made to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated events.

Contact:

Sharon Merrill
Dennis Walsh, 617-542-5300
Senior Consultant
 
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