NEWS!
Aeroflex subsidiary enters agreement to buy
telecom components operations from Lucent
Technologies
Signs multi-year strategic supply agreement
PLAINVIEW, N.Y.--(BUSINESS WIRE)--June 26, 1997--Aeroflex Incorporated, a
manufacturer of electronic systems and components, announced today that its
subsidiary, MIC Technology Corporation, has agreed to purchase two of Lucent
Technologies' telecommunications components operations. These operations are part
of Lucent's Network Systems business in North Andover, Massachusetts. The
companies are not disclosing terms and conditions of the sale.
Under the various agreements, MIC will acquire certain equipment and inventory as well
as licenses for technology and patents needed to manufacture multichip modules
(MCMs) and film integrated circuits (FICs). The two companies have also signed a
multi-year supply agreement with renewal options. Under the agreement, MIC will
provide Lucent with film integrated circuits which are used in communications
applications.
Lucent does not anticipate any layoffs as a result of the agreements, which take effect
July 1. The 70 people currently working in these combined operations will be
reassigned to other areas within the facility or to other parts of the business.
``We are very excited to reach these agreements with Lucent Technologies,'' said Brian
Mitchell, president of MIC. ``In addition to representing significant new business for us,
these agreements will enhance our position and capabilities in the high-performance
interconnect marketplace. MIC is emerging as the preeminent supplier of
high-frequency interconnect products for communications applications. These Lucent
agreements follow an exclusive supply agreement between MIC and Motorola RF
Semiconductor announced in January, 1997.''
``This is a strategic win for both companies, says Dan Tymann, engineering and
manufacturing director at Lucent Technologies. ''These agreements allow us to focus on
Lucent's core strengths -- developing and manufacturing reliable, high-capacity voice
and data transport systems which our customers expect from us. In addition, MIC was
the clear choice as the supplier best able to meet Lucent's future requirements for film
integrated circuits.``
In order to facilitate the transition of business and related technology to MIC, the
companies will co- manufacture the contracted products at Lucent's Merrimack Valley
facility through December 31, 1997. After that, production will shift to MIC's Pearl River,
N.Y. facility.
Aeroflex Incorporated (ARX), headquartered in Plainview, Long Island, designs and
manufactures advanced electronic systems and components, including microelectronic
circuits, interconnect products, instrument products and electro-optical devices, for both
the commercial and defense markets.
Lucent Technologies (LU) designs, builds, and delivers a wide range of public and
private networks, communications systems and software, consumer and business
telephone systems and microelectronics components. Bell Laboratories is the research
and development arm of the company. For more information about Lucent
Technologies, headquartered at Murray Hill, N.J., visit our website at
lucent.com |
