StockerYale Names New Director of Research & Development
SALEM, N.H.--(BUSINESS WIRE)--StockerYale, Inc. (NASDAQ: STKR - News), a leading designer and manufacturer of structured light lasers, LED modules and specialty optical fibers for industry OEMs, today announced that it has named Sylvain Rioux as Director of Research & Development for StockerYale's laser business unit.
Based out of the Montreal facility, Mr. Rioux will be responsible for managing all on-going R&D projects of StockerYale Canada, improving stage-gate product innovation processes, as well as leading product development initiatives for new markets and applications. Mr. Rioux brings more than 15 years in R&D leadership and product engineering including a strong background in photonics, to his new position.
Prior to joining StockerYale, Mr. Rioux was responsible for managing the Product Engineering department at EXFO, Inc., a world leader in optical fiber test equipment for telecommunications applications. Most recently, he was in charge of the Research & Development team at Roctest, Ltd., a leading manufacturer of monitoring equipment for civil engineering structures and fiber optic sensors, where he restructured R&D operations and initiated the development of new products to attack emerging markets in the industry. Earlier in his career, Mr. Rioux was a chief engineer and R&D leader at Lasiris, Inc. prior to its acquisition by StockerYale, Inc. in 1998. Mr. Rioux earned his degree in Physics Engineering at the Ecole Polytechnique in Montreal, Quebec.
"The management team is delighted to welcome Mr. Rioux as our new Director of Research & Development at StockerYale Canada," said Mark W. Blodgett, President and Chief Executive Officer. "A key part of our R&D initiative is to expand our product portfolio for emerging, high growth markets that are increasingly using lasers and LEDs in their equipment. With Sylvain at the helm of our R&D effort, we believe we have a real opportunity to be an early mover and penetrate new, emerging markets with industry-leading laser innovations."
Mr. Rioux said, "I'm excited to join StockerYale's talented new product development team and contribute to the Company's international success in advanced photonics technologies and product design."
About StockerYale
StockerYale, Inc., headquartered in Salem, New Hampshire, is an independent designer and manufacturer of structured light lasers, LED modules, and specialty optical fibers for industry leading OEMs. In addition, the company manufactures fluorescent lighting products and phase masks. The Company serves a wide range of markets including the machine vision, industrial inspection, defense, telecommunication, sensors, and medical markets. StockerYale has offices and subsidiaries in the U.S., Canada, and Europe. For more information about StockerYale and their innovative products, visit the Company's web site at www.stockeryale.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 StockerYale's 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 StockerYale to meet all of its business goals; uncertainty that StockerYale's 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 StockerYale's 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. You should also refer to the discussion under "Factors Affecting Operating Results" in StockerYale's annual report on Form 10-KSB and the Company's quarterly reports on Form 10-QSB for additional matters to be considered in this regard. Thus, actual results may differ materially. All Company, brand, and product names are trademarks or registered trademarks of their respective holders. StockerYale undertakes no duty to update any of these forward-looking statements.
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