© batman2000 Business | April 11, 2018

Phoseon continues its business expansion and growth plan

Phoseon Technology says that the company is investing for continued strong growth in solid state lighting for life sciences and industrial markets.
The LED solutions provider has announced its its latest expansion, increasing its headquarters by more than 50%, including added space for manufacturing, design and its new Life Sciences division, the company states in a press release.

“The positive investment atmosphere for corporations in the U.S. and the continuing need for innovative LED solutions demanded by the markets we serve, have created the need for further expansion of our Hillsboro, Oregon, facility,” said Bill Cortelyou, president and CEO of Phoseon. “Operating as a global supplier to the industry, the latest move by the U.S. government to support a competitive corporate tax structure will make us even more competitive.”

Phoseon has exceeded 25% annual growth for the past five years and this expansion will allow Phoseon, with 175 employees, to continue its growth trajectory at an even greater pace. In addition to this US. expansion, Phoseon recently established a wholly owned entity in Shanghai, China.

Furthermore, the global UV LED market is anticipated to exceed USD 1.3 billion by 2025. An increase in the number of companies offering UV LED packages, and expansion of UV technology in various applications, including curing, purification, analytical instruments and medical phototherapy, will have the biggest impact on the adoption of UV LED technology over the forecast period, the release continues.

“With a strong balance sheet, we will continue to invest heavily in research and development to enable high-value solutions to lead this market transition. Phoseon currently offers the broadest portfolio of innovative LED solutions across the industrial curing and life sciences market,” said Chris O’Leary, Phoseon CFO.
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January 17 2019 2:20 pm V11.11.0-1