LightPath Expanding Alliance with Hikari Glass
ALBUQUERQUE, N.M., Feb. 9 -- LightPath Technologies Inc. and Hikari Glass Co. Ltd. are expanding their strategic alliance. The companies' long-term relationship was originally established to provide LightPath with a stable supply of raw materials for its Gradium glass process. LightPath and Hikari strengthened their alliance in 1998, when Hikari was given the right to sell and distribute Gradium glass products throughout Asia. Under the new agreement, Hikari will manufacture products based on LightPath's proprietary technologies for distribution in Asia. The agreement calls for Hikari to initially invest $5 million in its own operations to procure production equipment required to implement the expanded alliance.
The companies' agreement was also modified to include products based on LightPath's proprietary automated laser polishing and laser fusion processes. Hikari's distribution territory of Japan, Korea, Taiwan and Singapore was expanded to include China, where the companies said Hikari already has a strong marketing and sales presence.
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