Published By : 19 Dec 2013 | Published By : QYRESEARCH
LightPath Technologies Inc., - a global manufacturer, integrator, and distributor of proprietary optical components announced LightPath Optical Instrumentation (Zhenjiang) Co. Ltd., (LOIZ) its second operating entity in China.
LOIZ is a newly-owned and formed subsidiary situated in Zhenjiang, found in the Jiangsu province of China.
According to the CEO of LightPath, Jim Gaynor, the demand for aspheric lenses is accelerated in both the regions of North America and Asia. Although the backlog had grown to $4.42 million since September 30, 2013, the company’s lens unit volume production has been raised by 50 percent in the fiscal year of 2013 as compared to the fiscal year of 2012.
Currently, LOIZ occupies a 22,000 square foot facility in Orlando, Florida, whereas, the LightPath Optical Instrumentation (Shanghai) Co. Ltd., occupies a 17,000 square foot facility in Shanghai, China.
It is observed that, LOIZ will occupy a 26,000 square foot facility in Zhenjiang, China and has also expanded (triple times) the company’s combined global production capacity.
The only catalyst that is driving the company is the manufacturing processes and proprietary technology that has decreased the cost of lenses provided to the customers. This aspect has created a paradigm shift among the end users in markets and industries such as telecommunications, laser tools, industrial equipment, digital projectors, and medical instruments.