IPG PHOTONICS CORP 10-K

ITEM 2. PROPERTIES Our significant facilities at December 31, 2023 include the following: Location Owned or Leased Lease Expiration Approximate Size (sq. ft.) Primary Activity Oxford, Massachusetts Owned 550,300 Diodes, components, final assembly, complete device manufacturing, R&D, administration Burbach, Germany Owned 567,100 Optical fiber, components, final assembly, complete device manufacturing, R&D, administration Leased May 2027 1,500 Complete device manufacturing Fryazino, Russia Owned 496,000 Optical fiber, components, final assembly, complete device manufacturing, R&D, administration Leased November 2026 20,000 Components Marlborough, Massachusetts Owned 377,800 Components, systems manufacturing, applications, sales, R&D, administration Minsk, Belarus Owned 372,100 Manufacturing of cabinets and mechanical subcomponents Davenport, Iowa Owned 160,300 Systems integration, sales, administration Our corporate headquarters is in Marlborough, Massachusetts. As of December 31, 2023, we occupied more than 3.3 million square feet of facilities worldwide. Of this we own 2.9 million square feet and lease 0.4 million square feet of building space, of which the majority is used for manufacturing. Our major manufacturing facilities are located in the United States and Germany. We have substantially reduced our reliance on our Russian operations, and have ceased new investments in our Russian and Belarus operations. We have and will continue to expand our manufacturing operations in Germany and the United States, and have added manufacturing capacity in Italy and Poland to meet the demand for our products and our sales and support needs. We conduct our major research and development activities in Oxford and Marlborough, Massachusetts and Burbach, Germany. We own additional facilities and land for various purposes, such as sales and support and applications labs. We believe the existing facilities are in good operating condition and are suitable for the conduct of our operations.