Speculative: Lumenon and Litton Poly-Scientific Team to Develop Advanced COADM Technology
ST. LAURENT, Quebec-- March 13, 2001--Lumenon Innovative Lightwave Technology Inc. (NASDAQ NM:LUMM - news) and Litton Poly-Scientific (a division of Litton Systems Inc., Woodland Hills, California) today announced plans to jointly develop an advanced MEMS-based photonic switching solution.
This initiative will leverage Litton Poly-Scientific's proven expertise in high performance and high reliability MEMS devices for critical applications and Lumenon's adaptive PHASIC process for manufacturing high performance, Arrayed Waveguide Gratings (AWG) devices, to offer the telecom industry an innovative Configurable Optical Add-Drop Multiplexer (COADM) solution.
Lumenon is a developer and high volume manufacturer of critical optical devices for the global telecom, datacom and CATV markets. ``This initiative is in response to the telecom industry's ever-increasing need to move traffic around the network faster and more cheaply and is in keeping with our strategy to be a leading optical solutions provider. We are very excited about teaming with Litton,'' says Mark Andrews, Lumenon's Vice President and Chief of Technology.
Litton Poly-Scientific manufactures a variety of fiber-optic components designed for military, industrial and commercial applications and has pioneered MEMS technology for military applications for more than 10 years. Norris Lewis, Litton Poly-Scientific Vice President of Technology says ``that the combination of Litton's MEMS expertise with Lumenon's sophisticated optical component solutions will result in a very competitive COADM solution.''
About Lumenon Innovative Lightwave Technology, Inc.:
Lumenon Innovative Lightwave Technology, Inc. designs, develops and builds integrated optics devices in the form of compact hybrid glass circuits on silicon chips. These photonic devices - based upon Lumenon's breakthrough hybrid glass technology and patented PHASIC(TM) process - offer communications providers the ability to dramatically boost bandwidth in fiber-optic cabling, the pipeline for today's burgeoning telecom, datacom and CATV industries. Web site: www.lumenon.com
About Litton Poly-Scientific:
Litton Poly-Scientific is an innovative motion technology and fiber-optic products company with design and manufacturing capabilities for a variety of rotary motion components, including precision motors and slip rings and for a variety of fiber-optic components including hybrid optical transceivers, silicon micro-machined commercial and mil-hardened switches, precision fiber alignment V-groove assemblies and numerous custom optical devices. Litton Poly-Scientific is headquartered in Blacksburg, Virginia, with operations in Murphy, North Carolina and Springfield, Pennsylvania. Web site: www.litton-ps.com
Litton is the largest builder of non-nuclear ships for the U.S. navy and designs, builds and overhauls surface ships for government and commercial customers worldwide. The company is a prime contractor to the U.S. government for information technology and provides specialized IT services to commercial customers and government customers in local/foreign jurisdictions. Litton is a leading provider of defense and commercial electronic technology, components and materials for customers worldwide. Headquartered in Woodland Hills, California, Litton reported annual revenue of $5.6 billion and more than 40,000 employees for the year ended 7/31/00. For more information, visit Litton's web site at www.litton.com
For more information about Lumenon Innovative Lightwave Technology, Inc., visit the Company's Web site at lumenon.com. Or contact Kirk Petersen, Communications Manager at 514.331.3738 ext 6430 - kirk.petersen@lumenon.com
This press release contains certain ``forward-looking'' statements, as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors are detailed from time to time in the Company's filings with the regulatory authorities having jurisdiction.
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