Andor Technology benefits from IPO
DECEMBER 20--Scientific-camera specialist Andor Technology (Belfast, Northern Ireland; www.andor.com) is celebrating the achievement of two major milestones at the start of 2005 following its December IPO on the London market and its move into new £6 million premises
DECEMBER 20--Scientific-camera specialist Andor Technology
(Belfast, Northern Ireland; www.andor.com) is celebrating the achievement of two major milestones at the start of 2005 following its December IPO on the London market and its move into new £6 million premises. The company's successful admission to the London Stock Exchange's AIM market was announced in the same week that its new purpose-built Belfast facility was officially opened by Barry Gardiner, MP, Northern Ireland Minister for Enterprise, Trade and Investment. Andor's relocation and flotation are designed to enable the company to consolidate its position in the international spectroscopy and scientific imaging markets.
Chief executive Hugh Cormican says that both developments are fundamental to the company's strategy of becoming the international market leader in specialist scientific cameras for both OEM and research customers. "The new 50,000-sq ft (4600-sq m) facility will enable us to implement new manufacturing processes that will greatly reduce our total process time and increase efficiency, productivity and profitability," says Cormican. "Our very successful IPO has provided us with the capital needed to achieve these aims. It will also enable us to expand our pioneering R&D activities and further develop our sales and marketing operations in the US, Europe and Japan."
Andor currently has a portfolio of more than 70 products used in a wide variety of fields, ranging from drug discovery and medical diagnosis to food quality testing and security. The company recently launched its iXon camera based on electron multiplying charge-coupled-device technology. The equipment can measure light down to just one photon, as well as in time resolutions of as short as one billionth of a second.
Andor's US headquarters opened in Connecticut in 1997, with regional sales offices in Boston, New Jersey, San Diego, and Atlanta. The most recently established office is Andor Japan, which opened in Tokyo in August 2000 to handle the company's Asia/Pacific Operations.