MONTREAL, Sept. 20 -- ITF Optical Technologies, a developer of photonic components for the telecommunication industry, has instituted its new photonic component plant in Saint-Laurent, Quebec. The company invested $50 million in the construction of the 40,000 sq ft manufacturing facility, which will help to increase the company's production capacity and increase its workforce by 700 people by the beginning of next year.
This investment is strategic for us because it gives our company world class production facilities that will allow for a substantial increase of our production capacity, said Eric Geoffrion, president of ITF Optical Technologies. Thanks to the support of our investors, that of the Quebec government and the know-how of the great team of researchers, engineers and technicians we have brought together, we now have everything we need to become one of the world leaders in the emerging photonic industry.