StockerYale Selling Stilson Machine Tool and Accessories Division

SALEM, N.H., Sept. 28 -- StockerYale Inc., said that it has sold its Stilson Die-Draulics division for $1.1 million.

"The sale of this division represents the final divestiture of the company's legacy businesses and completes the transformation to an all photonics based company," said Mark W. Blodgett, StockerYale's chairman & chief executive officer. "As we continue to make significant progress towards our vision of being an independent developer and manufacturer of optical subcomponents for the telecommunications industry and other photonics related markets, the proceeds from this divestiture will be utilized to further our R&D efforts in these areas," Blodgett added.