Expansion for Xaar
Xaar has leased a third facility on the world-renowned Cambridge Science Park in order to increase its R&D space by 50 percent to 48,000 square feet. The expansion supports the company’s considerable investment in R&D, which has recently seen staff numbers increase by 60 percent to 130 employees.
The expansion of the R&D team and facilities follows Xaar’s outstanding financial performance over the last few years, with the increase in sales and profits being achieved through the adoption of Xaar’s technology and printheads for a number of applications, including by ceramic tile printing. Sales grew by 78 percent in the first half of the year versus the same period in 2012 and profits were up 231 percent. In recognition of the strength of its financial performance Xaar received the ‘Technology Growth Business of the Year’ award at the recent UK Tech Awards and was named ‘Best Main Market Company’ at the recent Shares Magazine Awards.
In addition to the growth in R&D staff, the team has been re-structured into two divisions to accelerate product development and maximise effectiveness. The Bulk Piezo Technology Division focuses on developing new products and product variants based on Xaar’s current successful technology, while the Thin Film Piezo Technology Division is focusing on next-generation technology and products that will enable Xaar to target a wider range of applications. The first Thin Film Piezo product is due in 2016.
For further information visit: www.xaar.com