Boston, MA 10/01/2014 (wallstreetpr) – LightPath Technologies, Inc. (NASDAQ:LPTH) said that it has been granted a new order by Changzhou Huada Kejie Opto-Electro Instrument CO., LTD (HDOEI).
Purpose Of Project
As disclosed in an article, the order demands LightPath to supply HDOEI as many as one million molded aspheric lenses. LightPath Technologies, Inc. (NASDAQ:LPTH) is a leading vertically assimilated global maker and seller of proprietary optical parts, high-level assemblies and infrared lenses. As per the terms of the latest order it has received, the lenses will be deployed in a new series of surveying devices. The equipments are aimed at the do-it-yourself market for home improvement. The company said that it seeks to deliver the lenses before the end of the next year.
Situated in Changzhou in the Jiangsu Province of China, HDOEI is engaged with the manufacture of laser surveying equipment and accessories for Fortune 500 companies. The Chinese company is a major supplier to top construction engineering companies across the world. It said that the lenses contract that it has awarded LightPath Technologies, Inc. (NASDAQ:LPTH) will form a component of its laser tool lens series of products. The companies seek to produce the lenses in LightPath’s newly started high volume production factory in Zhenjiang, China.
Success Strategies
LightPath’s Chief Executive Officer, Jim Gaynor, said that the contract will further strengthen the partnership between the two companies. HDOEI is seeking to expand its market presence and make room for itself in the home enhancement market not only in China, but also in some Asian countries. In this view, he highlighted LightPath Technologies, Inc. (NASDAQ:LPTH)’s ability to supply high volume developing of precision glass molded aspheres. Apart from this, the company’s demand creation scheme has also been emphasized because for the project, believes Gaynor. He said that the company is gaining important advantages from a significant surge in revenue generating projects. In addition, broader market applications also provide substantial benefits, which are the effect of the company’s investments in technological advancements.
