Polaron's recent listing on the AIM market will allow its already rapid growth to accelerate further following the subscription of additional capital.
"As well as expanding Polaron plc organically through research and development, we shall be able to acquire technology companies that do not have the critical mass in terms of turnover and R&D resources to grow profitably," stated chief executive Joe Stelzer. "In addition, we have considerable experience in turning around loss making companies that have a strong technology base."
Polaron Components is recognised worldwide for its specialist switches and sensors. These are widely used in the most demanding applications, including in defence, aerospace, offshore, process engineering, rail, security and medical equipment.
The company recently won a £1 million contract from BAE Systems to supply the pressure sensors for the Sting Ray anti-submarine torpedo.
In 2002, the Watford-based group purchased the world-renowned Schaevitz pressure and displacement sensor lines.
Joe Stelzer, chief executive of Polaron plc, which has successfully listed on the Alternative Investment Market (AIM).
Date: 18 May 2004
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