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Technology Stocks : SDL, Inc. [Nasdaq: SDLI]

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To: pat mudge who wrote (2835)	9/19/2000 9:19:31 AM
From: Boplicity	Read Replies (1) of 3951

More dilution. <<Hitachi to form US fiber optic parts unit TOKYO, Sept 19 (Reuters) - Japanese electronics giant Hitachi Ltd <6501.T> said on Tuesday it would set up a new U.S. subsidiary this month to make and sell fiber optic components for telecommunications use. The new company, OpNext Inc, will be created to meet surging demand for fiber optic parts in the United States, which accounts for 60 percent of global demand for such products, Hitachi said in a statement. Clarity Group, an equally owned joint venture of Los Angeles-based private equity firm Clarity Partners and Japanese trading company Marubeni Corp <8002.T>, will invest up to $450 million in OpNext, the statement said. Hitachi will transfer to OpNext the operations of its fiber optic components business division, which generated sales of 17 billion yen last year, and take a majority stake in the new company, a Hitachi spokesman said. Hitachi shares on Tuesday closed down 2.75 percent at 1,275 yen.>> Greg

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