Phoseon, a US company that develops LED solutions, has announced its intentions to expand its business, partly in response to the recent US tax breaks.
Bill Cortelyou, president and CEO of Phoseon, explained: “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 recorded over 25 percent annual growth for the past five years and now the company has increased its headquarters by more than 50 percent to help it continue this growth. The new space will be used for manufacturing, design and to house a new Life Sciences division.
The global market for UV LED solutions is continuing to grow in various applications, including curing, purification, analytical instruments and medical phototherapy. Phoseon itself has shipped more than 100,000 lamps used for applications ranging from packaging solutions for consumer goods to disinfection of laboratory samples.
Chris O’Leary, Phoseon CFO, commented: “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.”