21 Apr 2006
Including news from Micronic, Philips, CVI Laser and more.
General company news:
• Micronic Laser Systems of Sweden has posted net sales of SEK 377 million (US $49.8 million) for the first quarter of 2006, up from SEK 230 million for the same period last year. The Swedish firm has upgraded its outlook for 2006 and is now expecting annual net sales to exceed SEK 1500 million. Micronic attributes its strong performance to "favorable conditions" in the display sector and "sustained growth" within the semiconductor market.
• Cree, US, has announced a net income of $24.3 million for the third quarter of fiscal 2006, an increase of more than $3.7 million year-on-year. The firm is due to start production of its high power LED products next quarter and anticipates a number of extra operational expenses and one-off costs in return for a strong market position.
• Wahl optoparts of Germany, a subsidiary of Jenoptik, has formed a strategic alliance with Apollo Optical Systems and RPC Photonics, both of the US, to manufacture polymer-based optical components for medical, defense and automotive markets.
• CVI Technical Optics has acquired Quality Laser Optics of Ballasalla, Isle of Man. According to CVI, the acquisition increases its European manufacturing capacity by over 25%.
• Liquavista, a spin-out of Philips Research, has been created to commercialize Philips' electrowetting display technology. The new firm will be led by Mark Gostick, who was part of the original Cambridge Display Technology (CDT) team, and includes the technology's co-inventors, Rob Hayes and Johan Feenstra.
• Sharp is negotiating with the Polish government to build a EURO 44 million (US $54 million) LCD facility in Torun. The factory is due to supply LCD modules for use in large screen TVs manufactured at plants in Spain and Germany.
• Seiko Epson has opened a development facility for next generation imaging products in Hirooka, Japan. The "innovation center" represents an investment of YEN 19 billion (US $162 million) and will bring together engineers and developers from throughout the organization.
• Advanced Research Technologies (ART), a Canadian provider of medical imaging products, has received a $2.3 million (US $2.0 million) investment from Oppenheimer Funds in return for 2 million shares. According to ART, the funding will help finance its corporate development.