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17 Jun 2002
Polaroid, of Cambridge, MA is selling its Laser Diode division to Power Science, a company based is Nes Ziona, Israel that makes power supplies for devices such as lasers and arc lamps.
When the transaction is completed, the division will become a separate company known as Boston Laser Inc (BLI). The new company will rent space, including an 8000 square foot cleanroom, in Polaroid's plant in Norwood, MA, which was previously occupied by the Laser Diode business. The chief executive officer of BLI will be Aharon Meytahl, who is also the CEO of Power Science.
"The new company will continue to serve all the customers of Polaroid Laser Diodes. Development of new products will be directed at the telco market-place," said Richard Jollay, manufacturing development manager at Polaroid Laser Diode. The company will focus on multimode pumps at 915 and 980 nanometers in particular.
Over the past year Polaroid has divested most of its non-core businesses and the sale of the Laser Diode division has been on the cards for some months (see Polaroid sells another subsidiary company). Polaroid reported strong results towards the end of 1999, following its move to focus on its core photographic and digital imaging products.
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