StockerYale Announces the Purchase of a New R&D and Manufacturing Facility in Montreal, Canada
SALEM, N.H.–(BUSINESS WIRE)–Dec. 14, 2000
New Photonics R&D Facility Will Become The Hub For The Development
Of Next Generation Optical Components And Laser Technology
StockerYale, Inc., (NASDAQ:STKR), a leading independent developer and manufacturer of optical networking components and specialized illumination products, today announced the purchase of a new 60,000 sq. ft. R&D and manufacturing facility located in Montreal, Canada for an undisclosed amount. This new facility is being specifically designed to support the development of new leading-edge optical components that are used by leading telecommunication OEMs and system integrators to build the all-optical networks of the future. The explosive growth of the Internet continues to accelerate the need for optical systems and networks that are expected to relieve increased bandwidth demands.
This new facility will also be dedicated to the development and manufacture of leading-edge Lasiris structured light lasers that are utilized in a variety of industrial inspection and machine vision applications. StockerYale is a recognized worldwide leader with its award winning Lasiris brand of lasers.
“The tremendous growth in demand for optical solutions has created the need for this most recent expansion in R&D and manufacturing,” said George Fryburg, executive vice president & chief operating officer. “The increase in space will also allow us to upgrade our Lasiris lasers manufacturing process and capacity which will improve quality and productivity,” said Fryburg. “In addition to the purchase of this new facility, we also purchased an additional 3.5 acres of land adjacent to this property for possible future expansion should the need arise,” added Fryburg.
The company anticipates that between 30-50 new jobs will be generated within the first year in support of its increased R&D and manufacturing efforts. New job opportunities will include, optical engineers and researchers, mechanical and electronic designers and engineers, research and test technicians. The first group of employees will begin occupation of the new facility by the end of January 2001.
The new R&D and manufacturing facility will also be home to Optune Technologies, a new subsidiary of StockerYale chartered to develop a new class of tunable optical filters (TOFs). This next generation of TOFs will be designed to deliver superior performance and reliability, further optimizing the optical network. The industry can expect improved reliability and tuneability, excellent isolation of channels and because of increased stability, minimal drift in signals. This new class of TOFs will be capable of tuning across the entire C and L band in several hundred microseconds. TOFs will be critical components for the reconfigurable, all-optical networks (AON) of the future.
“This new 60,000 sq. ft. facility will allow us to significantly increase our R&D efforts in photonics and upgrade our capabilities into a state-of-the-art facility that will house clean rooms, and advanced research and test equipment that are critical to our burgeoning R&D efforts,” said Alain Beauregard, president and chief technology officer. “In addition, the increased R&D and office space will allow us to continue our aggressive recruitment and hiring of industry specific PhD’s and technical personnel that will ensure our R&D initiatives are met,” added Beauregard. “We are also pleased that Optune Technologies will reside at this new Photonics R&D center as we believe the close integration and collaboration of top-notch talent will help facilitate the accelerated development of next generation optical components,” said Beauregard.
“As an independent developer and manufacturer of optical components and specialized illumination products, we will continue to invest in R&D and manufacturing competencies to ensure the further development of these critical technologies,” said Mark W. Blodgett, StockerYale’s chairman and chief executive officer. “We also recognize the fact that there is a strong pool of technology talent in and around the Montreal area from which we can recruit seasoned technology professionals. This new state-of-the-art R&D and manufacturing facility will not only expand our potential in these two critical disciplines but will also help us to attract the professionals that will assist us in meeting our aggressive corporate initiatives,” added Blodgett.
StockerYale, Inc. headquartered in Salem, NH, in an independent designer and manufacturer of optical components used in the building of optical networks as well as structured light lasers, specialized fiber optic, fluorescent, and LED illumination products for the machine vision and industrial inspection industries.
StockerYale serves a widely varied, international customer base from its corporate offices in Salem and reinvests a significant percentage of its revenues in R&D to meet the future requirements of its customers. StockerYale has offices and subsidiaries in the U.S., Canada, Europe, and the Pacific Rim.
For more information about StockerYale, Inc. and their innovative products, contact StockerYale, Inc., 32 Hampshire Rd., Salem, NH, 03079; Call 800-843-8011; Fax 603-893-5604; or e-mail email@example.com. Information is also available on the company’s web site at www.stockeryale.com.
Notice to Investors:
This press release contains forward-looking statements that do not give full weight to all the potential risks, but relate to StockerYale’s plans, objectives, and expectations, which are dependent upon a number of factors outside of StockerYale’s control including, but not limited to: market acceptance of StockerYale’s products, the availability of competing products, sales trends, and the trading price of StockerYale’s common stock. Thus, actual results may differ materially. StockerYale undertakes no duty to update any of these forward-looking statements.
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