LightPath Technologies is building 12 new moulding stations for moulded aspheric lenses for its China operations. This investment will result in an increase in capacity and production capability of more than 45 per cent.
Demand for LightPath’s aspheric lenses has increased in both its North American and Asian sales regions. Given the phase-in of this new business and the fact that it will be high-volume low-cost products driving this increase, the company expects to see a greater than 15 per cent increase in annual revenues.
LightPath CEO, Jim Gaynor, said: ‘It is significant to note that the product demand we are seeing is broad based across several of our larger market segments. It is not limited to any specific industry, market or geographic location.’
Gaynor added that the growth is driven by four market themes: cloud computing, adoption of digital technology for video distribution, mobile internet demand, and machine to machine communication, which all require more bandwidth and thus expansion of optical networks.