November 21, 2001 The 18-month-old UK company restructures and refocuses.
The United Kingdom-based Polatis (www.fiber-today.com) plans to focus all its resources on seizing the low-loss, modular all-optical switch market opportunity.
Chaffee Fiber Optics reports that the company has decided that its actuated Bragg Grating product range is not core to the business and consequently will cease development and marketing in this area. The company is meeting with its partners to discuss the future of the product line.
As part of this restructuring, the company says chief operating officer Elmo Perera has resigned and eight other staff members have been laid off. Polatis founder Andrew Dames will step down as CEO to take the role of research director, and chairman Gary Vanstone take over the duties of CEO on an interim basis while the new CEO recruitment process is being completed.
"Given the industry's current climate, it is imperative that our resources are suitably focused on clearly identified market requirements," said Vanstone. "Our sub-1-dB all-optical switch technology allows our customers to realize highly flexible and dynamic networks. We are presented with a great opportunity and we are pulling out all the stops to ensure that we achieve it."
The company was formed in June 2000 and received a first round investment package in January 2001 from 3i Group and Alta Berkeley.
