The economic crisis in Asia and a volatile world economy were two factors that contributed to slumping shipments of industrial laser systems by North American companies in the third quarter of 1998. The Association for Manufacturing Technology's Laser Systems Product Group reported shipments totaling $129.6 million, a 12 percent decline from $147 million recorded in 1997's third quarter.
Shipments to companies within North America amounted to $94.9 million, while exports totaled $34.7 million. Cutting applications accounted for 60 percent of all shipments.