Spectra-Physics Affiliate to Buy Firm Controlling 3D

An affiliate of Spectra-Physics, a major laser manufacturer based in San Jose, is acquiring the company that controls 3D Systems in Sylmar for about $27.6 million.

3D is developing a machine that uses lasers, ultraviolet lights and plastics to produce models of parts that are first drawn by computers. 3D contends that the machines eventually could produce models for everything from automobiles to jet engines in hours instead of the weeks now required with conventional design materials such as clay.

3D is 70% owned by 3D Systems of Canada, which in turn was controlled by Lionheart Capital Corp., an investment firm in Vancouver, B.C. The rest of the stock is owned by 3D executives and the public.

But Spectra-Physics, itself a unit of Ciba-Geigy Ltd. of Switzerland, said its Canadian affiliate, 1726 Holdings Ltd., last week acquired 93% of Lionheart’s stock through a tender offer and plans to buy the remaining stock.

George Dies, Spectra-Physics’ assistant treasurer, said the company bought Lionheart because “we are mostly interested in their ownership interest in 3D Systems.” Spectra-Physics has “nothing in mind at the moment” regarding changes in 3D Systems’ operations, he said.