A designer and manufacturer of materials processing equipment, Preco Industries Inc. of Lenexa, Kan., has acquired Somerset, Wis.-based Laser Machining Inc., which produces and integrates high-power laser systems for the metals, nonmetals and converting markets. Their first combined effort is a device that will cut 20,000 microscopic holes per second in packaging material moving at 1000 feet per minute.Laser Machining will be known as Preco Laser Systems and will operate as an independent organization.