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Technology Stocks : Aeroflex (ARX)

ARX 13.58

-1.3%

Nov 14 9:30 AM EST

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To: David S. who wrote (16)	6/27/1997 12:30:00 PM
From: Jeffery E. Forrest	of 586

PLAINVIEW, N.Y., June 26 (Reuter) - Aeroflex Inc (ARX) said on Thursday that its MIC Technology Corp unit agreed to buy two of Lucent Technology's (LU) telecommunications components operations. Terms of the deal were not disclosed. The companies also signed a multiyear supply agreement, with MIC supplying Lucent with film integrated circuits used in communications applications. Lucent said in a joint news release with Aeroflex that it does not anticipate any layoffs as a result of the deal, which is to take effect July 1. The operations to be bought are part of Lucent's Network Systems business in North Andover, Mass. MIC will acquire certain equipment and inventory, as well as related licenses and patents. The Lucent employees currently working in these operations were to be reassigned, the company said. The companies said they will co-manufacture the products at Lucent's facility through December 31, after which production will switch to MIC's plant in Pearl River, N.Y.

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