[JDS Fitel]
Frank --
Thanks for the thorough report. You've really caught my attention, now. I wouldn't have been sold had you not done it.
How does JDS compare with Ciena? I noticed they're ranked on the same industry chart.
This press release caught my eye:
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''JDS FITEL ANNOUNCES ACQUISITION OF AN EQUITY INTEREST IN IOT''
NEPEAN, Ont., Aug. 4 /CNW/ - JDS FITEL Inc. (TSE:JDS) today announced the completion of its previously announced intention to acquire a significant equity interest in IOT Integrierte Optik GmbH (''IOT''), a subsidiary of Schott Glaswerke (''Schott'').
Established in 1987, IOT is a market leader in the design and manufacture of monolithic integrated optical couplers and splitters for telecommunication networks based on the company's proprietary planar glass waveguide and ion-exchange technology.
IOT's state of the art technology allows the company to provide optical components featuring low insertion loss and low back reflection with negligible polarization dependence. Currently, IOT's main product line of 1XN and 2XN (with N up to 32) components is qualified to industry standards and manufactured in volume at its ISO 9001 certified production facility.
JDS FITEL and IOT intend to combine the technology base of both companies to provide their customers with a broad range of solutions for the current and future needs of the global telecommunications market. The transaction combines the strengths of JDS FITEL, a leading fiber optic component supplier, and IOT, a leader in the development of glass planar waveguide technology, to focus on accelerating the development and volume supply of high performance optical components.
Under the terms of the agreement, JDS FITEL acquired a 49% equity interest in IOT for a total purchase price of approximately 7.9 Million DM. JDS FITEL has also acquired options to purchase the remaining 51% of IOT from Schott.
The current management of IOT will continue to lead the company under the direction of Dr. Ludwig Ross, Managing Director of IOT. Dr. Joseph Straus, President and CEO of JDS FITEL, and Dr. Winfried H.G. Horsthuis, Vice President, Strategy and Business Development of JDS FITEL, have joined the Supervisory Board of IOT along with Brian Edney, Chairman of the Opto Electronics Group of Schott, and Wilfried Kraemer, Vice President, International Sales and Marketing of Schott.
IOT is located in Waghaeusel-Kirrlach, Germany and the remaining 51% of IOT is held by Schott. Schott is a leading manufacturer and supplier in the field of special glass and glass ceramics. Schott's head office is located in Mainz, Germany.
Schott offers a broad selection of products, materials, systems and
components, ideas and services in the field of special glass and glass
ceramics. Schott employs approximately 16,300 people worldwide and had sales of approximately US $1.65 Billion for the year ended September 30, 1996.
Schott is part of the Carl-Zeiss-Stiftung (Foundation) of Germany.
JDS FITEL is a Canadian high technology company that manufactures and distributes a broad range of products for the growing fiber optic communications market. The Company executes its business strategy through its advanced design capabilities, proprietary manufacturing tools and processes and, in particular, its early participation in advancing market and technology trends. JDS FITEL's shares are listed on The Toronto Stock Exchange under the
symbol JDS.
(signed)
Joseph Straus, Ph.D.
President and CEO>>> |
