CorActive Announces Private Financing of $16 Million
QUEBEC CITY, July 9 -- CorActive High-Tech Inc., an emerging player in the manufacturing of specialty optical fibers, announced that it has raised $10.5 million in a financing round managed by Yorkton Securities Inc. The lead investor was Fidelity Management & Research Co.
The financing will mainly be used to increase the production capacity of the company through the purchase of new equipment and the addition of specialized human resources in research, manufacturing and sales.
"CorActive is already the only specialty optical fiber manufacturer in Canada, and this recent injection of capital will surely make us a world leader in this particular niche where the demand is strong and stable," said Francois Chenard, president of CorActive High-Tech.
Founded in 1998 and located in Quebec City with approximately 20 employees, CorActive High-Tech Inc. manufactures and markets specialty optical fibers used primarily in the telecommunications sector -- namely erbium-doped fiber for optical amplifiers, attenuating fiber for attenuators and photosensitive fiber for optical filters.
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