Solectron, Lucent to unwind optical network deal
21 Oct 2002, 4:16pm ET
MILPITAS, Calif., Oct 21 (Reuters) - Contract manufacturer
Solectron Corp. on Monday said it has reached an
agreement with Lucent Technologies to unwind an
outsourcing and asset purchase deal completed last May
involving Lucent's optical networking systems in North Andover,
Massachusetts. Milpitas, California-based Solectron said the two sides
hope to reach a final deal by the end of November, which is the
end of Solectron's fiscal first quarter. Solectron said under the new arrangement, Lucent will
repurchase equipment and unused inventory that Solectron
acquired in May. Solectron will continue to produce products
for and support Lucent through March. Solectron also said it expects to vacate space leased from
Lucent at its facility in North Andover at the end of the
transition. Financial terms of the unwinding were not disclosed.© Reuters 2002. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world. |
