ORLANDO, Fla., Oct. 3, 2013 — Optical components maker LightPath Technologies Inc. will build 12 new molding stations for its China operations in response to accelerating market demand for its molded aspheric lenses. The investment, announced Tuesday, will increase the company's capacity and production capability by more than 45 percent.
Aspheric lenses for laser tools, telecommunications, digital projectors, industrial equipment and medical instruments — and the increasing use of green laser diodes — have created the demand in North America and Asia, LightPath said. The company manufactures products in the US and China.
“It is significant to note that the product demand we are seeing is broad-based across several of our larger market segments. It is not limited to any specific industry, market or geographic location,” said LightPath CEO Jim Gaynor, adding that the growth is driven by four bandwidth-intensive markets demanding optical network expansion: cloud computing, adoption of digital technology for video distribution, mobile Internet and machine-to-machine communication.
The company said it expects the demand increase will phase-in over the next three quarters and will result in an increase in annualized revenues of more than 15 percent.
For more information, visit: www.lightpath.com