powerlase
Powerlase Announces Massive Growth And Expansion of Manufacturing Capacity
Laser innovator's 233% year-on-year growth paves way for expansion for threefold capacity increase in 2006. Powerlase Ranked fifth fastest growing venture capital-backed UK company.
Crawley, England – 25th April, 2006 – Powerlase Ltd, manufacturers of the world's most powerful diode-pumped solid state (DPSS) lasers, announces it is expanding operations, including occupying an extra 12,800 sq feet space in a new building to increase capacity threefold during 2006, to cope with escalating demand from customers.
The expansion follows the laser innovator's impressive 233% growth year-on-year and the company being listed as fifth fastest growing venture capital-backed company in the UK (research conducted by research firm Library House for the Daily Telegraph fast growth rankings, 11th April 2006).
Powerlase has seen a rapid growth in demand for its lasers as industries are recognising their use in a wider range of applications. As a result, it has recently occupied an additional 12,800 sq foot building of which more than 50% will be dedicated to assembly, alignment and testing. Part of the area will also be used to extended reliability testing of components and laser systems. The new space will also enable Powerlase to increase its manufacturing capacity by around 300% over 2006 with the capability of further expansion in 2007 and beyond.
Company comments
Tony King, Powerlase Executive Director and COO says: "We are showing tremendous growth through our ongoing commitment to product innovation and quality customer service. Our expansion reflects wider industry recognition of the use of lasers in manufacturing and is a direct response to our leading position as a primary supplier of high power lasers in the field of ITO ablation in the Flat Panel Display (FPD) industry.
"We are continuing to invest heavily in research and development to make sure that the giant strides made to date continue into the future. Our expansion plans include the development of several dedicated applications and development labs which will be announced shortly."
About Powerlase
Powerlase Limited is an innovative, independent, high power Laser Company, focused on Diode Pumped Solid State lasers developed for industrial applications primarily for use in the materials processing and microelectronics markets for flat panel displays, microelectronics, automotive and aerospace sectors.
POWERLASE is supported by venture capital from MTI Partners, Deutsche Venture Capital, Cazenove Private Equity, Alice Ventures and FNI Venture Capital.
Powerlase Limited was recently named as the fifth fastest growing venture capital-backed company in the UK in the Daily Telegraph's Business Telegraph Growth Rankings.
For further information
Please contact: Blaise Hammond or Sian Aherne at Fuse PR.
Tel: +44 (0)20 8752 3203
sian@fusepr.com / blaise@fusepr.com