ProPhotonix Limited Appoints New Board Member Duncan Byatt
ProPhotonix Limited Appoints New Board Member Duncan Byatt
Salem NH, USA – July 1, 2010 – ProPhotonix Limited, the designer and manufacturer of LED systems and diode-based laser modules for industry leading OEMs, today announces that it has appointed Duncan Byatt as a Non-Executive director of the Company.
Duncan Byatt has been an investment professional for some twenty five years, starting his career at Ivory & Sime, Edinburgh in 1984. He has spent time living in Japan, Europe and Africa. From 1991 to early 1998 he managed the Gartmore US Small Company funds from London. These were among the largest and most successful investment funds of their type at the time. He was a Principal of Gartmore Investment Management Limited.
In late 1998 he founded Eagle & Dominion Asset Management, and launched two new investment funds, principally to invest in growth companies in the US and Europe. In late 2006 he was appointed Senior Managing Director Bear Stearns Asset Management, London, and headed the Global Growth Equity Team there until early 2008. The Eagle & Dominion funds were restructured in May 2007 to be able to invest in global growth companies. He continues to be a Director of these funds.
During 2009 he undertook the planning and launch of The Foundation of Prince William and Prince Harry, and is currently its Chief Executive.
Duncan Byatt stated, “Prophotonix has already established a strong position in the international machine vision market supplying OEMs around the world with leading solutions such as its high brightness LED and machine vision technology. I am excited to join the Board at a time when the Company has identified significant additional growth opportunities for its technology, taking its leading solutions into much larger addressable markets. Prophotonix has a highly skilled and experienced team which provides an additional competitive advantage as the Company continues to grow its existing business and benefits from the new growth opportunities.”
Commenting, Mark W. Blodgett, Chairman and CEO of ProPhotonix, said, “we are delighted to welcome Duncan to the Board of ProPhotonix. He joins at a key stage for the Company as we embark on the next phase of our growth strategy. We already have a strong position in the machine vision market and will be leveraging our LED technology as we develop market share in the medical sector and the architectural, commercial and industrial illumination sectors where demand is growing rapidly across a wide range of applications.”
About ProPhotonix Limited
ProPhotonix Limited, headquartered in Salem, New Hampshire, is an independent designer and manufacturer of diode-based laser modules and LED systems for industry leading OEMs. In addition, the Company distributes premium diodes for Opnext, Sanyo & Sony. The Company serves a wide range of markets including the machine vision, industrial inspection, defense, sensors, and medical markets. ProPhotonix has offices and subsidiaries in the U.S., Ireland, and Europe. For more information about ProPhotonix and its innovative products, visit the Company’s web site at www.prophotonix.com
Enquiries:
ProPhotonix Limited
Mark W. Blodgett, CEO +1 603 870 8215
IRInfo@ProPhotonix.com
Hansard Communications Limited
John Bick / Kirsty Corcoran +44 (0)20 7245 1100
+44 (0)7872 061007
ProPhotonixs@hansardcomms.com
SAFE HARBOR STATEMENT
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical fact, including without limitation, those with respect to ProPhotonix’ goals, plans and strategies set forth herein are forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: uncertainty that cash balances may not be sufficient to allow ProPhotonix to meet all of its business goals; uncertainty that ProPhotonix’ new products will gain market acceptance; the risk that delays and unanticipated expenses in developing new products could delay the commercial release of those products and affect revenue estimates; the risk that one of our competitors could develop and bring to market a technology that is superior to those products that we are currently developing; and ProPhotonix’ ability to capitalize on its significant research and development efforts by successfully marketing those products that the Company develops. Forward-looking statements represent management’s current expectations and are inherently uncertain. All Company, brand, and product names are trademarks or registered trademarks of their respective holders. ProPhotonix undertakes no duty to update any of these forward-looking statements.
Contact
ProPhotonix Limited
Mark W. Blodgett, CEO, +1 603 870 8215