Tuesday July 6, 9:18 am Eastern Time
Company Press Release
SOURCE: JDS FITEL Inc.
JDS Uniphase Shares Commence Trading
NEPEAN, ON & SAN JOSE, CA, July 6 /CNW-PRN/ - JDS Uniphase Corporation announced the closing of the merger
between JDS FITEL Inc. (TSE:JDS - news) and Uniphase Corporation (NASDAQ:UNPH - news). The shares of JDS Uniphase Corporation will commence
trading today on the Nasdaq National Market System under the symbol JDSU and the exchangeable shares of JDS Uniphase Canada Ltd. will trade commencing
today on The Toronto Stock Exchange under the symbol JDU. The two companies commenced combined operations on the close of business on June 30, 1999
following the obtaining from the Ontario, Canada courts of the Final Order approving the merger.
Kevin Kalkhoven, Co-Chairman and CEO of JDS Uniphase, stated, ''I am very excited by the completion of this merger. I look forward to working with our new
management team in completing the integration of the two companies and creating a world leader in the rapidly growing market for both active and passive fiberoptic
components and modules.''
Jozef Straus, Co-Chairman, President and Chief Operating Officer of JDS Uniphase, added, ''The completion of our merger signals a new beginning for a company
with a very promising future. As a combined entity, JDS Uniphase is in an excellent position to meet the increasing demands of the fiberoptic telecommunications
industry by providing products with a higher level of functionality at a faster time-to-market.''
JDS Uniphase is a high technology company that designs, develops, manufactures and distributes a comprehensive range of products for the growing fiberoptic
communications market. These products are deployed by system manufacturers worldwide to develop advanced optical networks for the telecommunications and
cable television industries. JDS Uniphase Corporation is traded on the Nasdaq National Market under the symbol JDSU and the exchangeable shares of JDS
Uniphase Canada Ltd. are traded on The Toronto Stock Exchange under the symbol JDU. More information on JDS Uniphase is available at www.jdsunph.com.
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Act of 1934. These statements may be identified by their use of forward-looking terminology such as ''believes'', ''expect'',
''may'', ''should'', ''would'', ''will'', ''intends'', ''plans'', ''estimates'', ''anticipates'' and similar words. Such forward-looking statements include, but are not limited
to, statements regarding the expectations, intentions or strategies of JDS Uniphase and possible benefits to JDS Uniphase as a result of the combination of Uniphase
and JDS FITEL described above. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those
projected. Risks and uncertainties that could cause actual results to differ materially from such forward-looking statements include, but are not limited to the speed of
integration of the two businesses, and other factors discussed from time to time in reports filed by Uniphase Corporation or JDS Uniphase Corporation with the
Securities and Exchange Commission. The forward-looking statements contained in this news release are made as of the date hereof and JDS Uniphase assumes no
obligation to update the forward-looking statements, or to update the reasons why actual results could differ materially from those projected in the forward-looking
statements.
SOURCE: JDS FITEL Inc.
More Quotes
and News:
UNPH - news
JDS Fitel Inc (Toronto:JDS.TO - news)
JDS UNIPHASE CP (Nasdaq:JDSU - news)
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