Exclusive: Lam Research unloads German unit by Dan Primack @FortuneMagazine June 6, 2014, 4:42 PM EST E-mail Tweet Facebook Google Plus Linkedin Share icons Lam Research Corp. LAM has agreed to sell Peter Wolters, a German maker of machining tools, to Illinois-based Lapmaster International, Fortune has learned. A formal announcement is expected later this afternoon. Peter Wolters originally became part of Lam Research in 2012, when Lam paid $3.3 billion to acquire Novellus Systems (which had bought Peter Wolters eight years earlier). Its financials were never broken out by Lam, although Novellus had reported 2012 revenue of around €68 million. The news was first disclosed during an all-hands meeting at Peter Wolters earlier this afternoon. Lapmaster is a privately-held company that manufactures precision surfacing equipment like grinders. Headwaters MB managed the sale process.