StockerYale Changes Name to ProPhotonix
SALEM, N.H., Jun 23, 2010 — StockerYale Inc. announced Wednesday it has changed its name to ProPhotonix Ltd., effective immediately.
The company said the name change reflects its "track record for innovations in optics technology for both LED systems and diode-based lasers."
"Following last year's sale of the company's North American operations (See StockerYale Sells to Coherent) combined with our increased focus on leveraging our LED technology into new, much larger markets not previously addressed by the company, we believe adopting a new name and brand identity is a logical next step in our growth strategy," said Mark W. Blodgett, chairman and CEO of ProPhotonix.
"The new name gives customers, suppliers and investors a clearer definition of what we do and the direction we intend to pursue. While the StockerYale brand is well-known in the machine vision industry, it does not clearly reflect that we are a technology company, developing and manufacturing unique LED and laser module products for the medical, defense and industrial markets," he added.
Going forward, the company said it will work to leverage its chip-on-board LED technology to develop new products, such as LED light engines, for growing markets in the medical and illumination sectors, including architectural, entertainment and industrial lighting. It will also continue to strengthen its position in the machine vision market. ProPhotonix is in the final development stages for the commercial launch of InViso, its new line of diode-based lasers, the company said.
ProPhotonix said its stock ticker will be changed "in due course." It also has a new Web site, www.prophotonix.com
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