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18 Mar 2005
Including news from Advanced Photonix, Picometrix, UDC, Luxell, SpatiaLight and more.
General company news:
• TridonicAtco, of Austrian lighting group Zumtobel, and Japanese firm Toyoda Gosei have formed a joint venture to develop high-power white LEDs. Based in Jennersdorf, Austria, the new firm has been established with an initial fund of EURO 2.6 million and will develop LED products with an emphasis on European automotive and telecoms sectors. "We are pleased to step forward to establish a base for technical development and production in central Europe," said Toyoda Gosei president Takashi Matsuura.
• Luxell Technologies of Canada and Korean firm Advanced Neotech Systems (ANS) have signed a memorandum of agreement to jointly explore commercial opportunities in the field of organic light emitting diode (OLED) technology. The plan is to leverage Luxell's strong IP in the field with ANS' expertise in OLED and flat panel display manufacturing equipment design. "This agreement marks another key step [towards] entry into the Korean display market, on the heels of last year's strategic partnership formed with Hyundai," commented Luxell CEO John Wright.
• Ball Aerospace has announced that its horizontal collimator assembly (HCA), a testing facility for large telescope systems in a space-like environment, is now operational. The HCA can evaluate optical systems with aperture diameters up to 30 inches in a vibration isolated chamber.
Acquisitions:
• Advanced Photonix Inc. (API), a maker of silicon-based optoelectronic devices is to acquire Picometrix - a developer of high-speed photoreceivers. The purchase price is $3.5 million in cash, $2.9 million in four-year API promissory notes and 2.575 million API shares. "Picometrix brings design experience and processing expertise in III-V semiconductor materials, namely gallium arsenide and indium phosphide," said API's CEO Richard Kurtz. "The added benefit of Picometrix's proprietary terahertz sensor technology supports our goal of building on our manufacturing capabilities."
• InnovaQuartz, a US manufacturer of quartz and silica-based optical fibers and components, has acquired 3M's TECS multimode optical fibre product line. InnovaQuartz has said that it will move the multimode fibre production business from West Haven, Connecticut, to its new, state-of-the-art draw facility in Pheonix, Arizona.
Financial results:
• Universal Display Corporation, a US developer of organic light emitting diode (OLED) technologies for flat panel displays and lighting applications, has announced a year-end net loss of $15.9 million. This compares to a net loss of $18.4 million for the previous year. Revenues were up by over $400,000 on 2003 figures and include $2.62 million in government contracts, $2.48 million from sales of OLED materials for evaluation purposes, and $1.35 million in technology development from business partners. The firm also received $403,070 in license fees and royalties and $147,600 from sales of OLED material for commercial purposes.
• SpatiaLight, a manufacturer of liquid crystal on silicon (LCoS) microdisplays, has announced a year-end loss of $9.36 million, a decrease of $149,000 on 2003 figures. The US firm's revenues have increased from $0.22 million in 2003 to $1.16 million in 2004.
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