January 17, 2008, Orlando, FL--Precision optics maker LightPath Technologies has entered into a joint venture agreement with CDGM Glass Company (CDGM); LightPath and CDGM will each own a 50% interest in the joint venture which will be organized under the name "LightPath CDGM Chengdu Optical Co., Ltd.", located in Chengdu, China. CDGM is China's largest optical glass manufacturer producing preforms for optical companies to convert into optical lenses.
The initial business purpose of the joint venture will be to develop, mold, and manufacture aspheric lenses with a diameter of less than 20 mm for high-volume visible imaging applications for cell phones, digital cameras and video equipment. The joint venture may also assemble modules that will include the lenses for such applications, and will sell and distribute its products in China and international markets and provide technical and after-sale services. The target production volume of the joint venture is one million lenses per month which the parties believe can be achieved after 12 months of manufacturing operations.
LightPath manufactures optical products including precision molded aspheric optics, precision molded infrared optics, proprietary collimator assemblies, isolators utilizing proprietary automation technology, higher-level assemblies, and packing solutions.
For more information, visit www.lightpath.com.