LightPath Technologies Announces Expanded Distribution Network in Southern Asia, North America, Central America and South America
LightPath Technologies Expands Its Distribution Network by Designating WPG SA as LightPath's Distributor in Southern Asia and WPG Americas as LightPath's Distributor in North, Central and South America
ORLANDO, FL--(Marketwire - October 7, 2009) - LightPath Technologies, Inc. (NASDAQ: LPTH),
today announced it has entered into a non-exclusive distribution agreement
with WPG Americas and WPG SA. Under the terms of the agreement, WPG
Americas will distribute LightPath's broad range of optical products
throughout the Americas. WPG SA will distribute LightPath's products in
the following Southern Asian markets: Singapore, Thailand, Malaysia, the
Philippines, India, and Vietnam.
Jim Gaynor, CEO of LightPath, commented, "The addition of WPG is a key part
of LightPath's overall strategy to expand its channels to address high
volume markets in Asia and worldwide. WPG has a well established
distribution network and excellent relationships with large OEM
manufacturers of opto-electronic systems. Our agreement with WPG gives
LightPath more comprehensive sales coverage in the Americas and
significantly expanded exposure throughout South Asia."
Rob Myers, Director of Sales for LightPath, commented, "We are excited to
add WPG, a leader in the distribution of hi-tech components worldwide to
our expanding distributor network. WPG will strongly enhance our market
presence in regions that we consider key to our future growth."
"WPG Americas is very pleased to engage with LightPath. LightPath's broad
portfolio of leading optical components complements the solutions we
provide in several key markets including medical, instrumentation,
communications, and defense," said Michael Hayman, Sr. Director Product &
Technical Marketing for WPG Americas.
About WPG Americas, Inc.
Headquartered in San Jose, CA, WPG Americas Inc. is a member of WPG
Holdings, a worldwide distributor of semiconductors, passive,
electro-mechanical and display products. Founded in November 2007, WPGA is
a franchised partner to technology leaders including Avago, Cree, Kemet,
Opnext, ROHM, Samsung and Vishay.
About WPG Holdings
WPG Holdings, Asia's No. 1 Electronics Distributor, was founded in November
2005. WPG Holdings subsidiaries include five leading semiconductor
distributors in Asia (WPI group, SAC group, RichPower group, Pernas group
and AIT group) and serves as a franchise partner for over 200 world-wide
brands, such as Analog Devices, Cree, Infineon, Intel, Kemet, NXP, ON Semi,
Opnext, Skyworks, Texas Instruments, and Vishay with over 30 sales offices
throughout Greater China and the Asia Pacific region, WPG Holdings is the
World's third largest distributor of electronic components with sales in
excess of $4.5 billion in 2008 (AIT Group excluded).
About LightPath Technologies, Inc.
LightPath manufactures optical products including precision molded aspheric
optics, GRADIUM® glass products, proprietary collimator assemblies, laser
components utilizing proprietary automation technology, higher-level
assemblies and packing solutions. LightPath has a strong patent portfolio
that has been granted
or licensed to us in these fields. LightPath common stock trades on the
NASDAQ Capital Market under the
stock symbol LPTH. For more information visit www.lightpath.com
This news release includes statements that constitute forward-looking
statements made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. This information may involve
risks and uncertainties that could cause actual results to differ
materially from such forward-looking statements. Factors that could cause
or contribute to such differences include, but are not limited to, factors
detailed by LightPath Technologies, Inc. in its public filings with the
Securities and Exchange Commission. Except as required under the federal
securities laws and the rules and regulations of the Securities and
Exchange Commission, we do not have any intention or obligation to update
publicly any forward-looking statements whether as a result of new
information, future events or otherwise.
GRADIUM® is a registered trademark of LightPath Technologies