Alcatel (ALA) and France Message Board

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Technology Stocks : Alcatel (ALA) and France

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To: Yeadon who wrote (66)	10/6/1998 1:31:00 AM
From: Steve Fancy	of 3891

Optec Dai-Ichi To Sell Units To France's Alcatel for Y4.7B Dow Jones Newswires -- October 1, 1998 TOKYO (Dow Jones)--Japan's Optec Dai-Ichi Denko Co. (J.OPD or 5810), a wire maker for electronic parts, said Thursday it signed an agreement to sell three overseas subsidiaries to France's Alcatel for a total of Y4.7 billion. The sale is a part of Optec Dai-Ichi Denko's plans to withdraw from most of its overseas operations as part of a restructuring plan following large losses. The deal, to be completed on Oct. 10, involves the sale of Optec D.D. U.S.A., Inc. and Optec Sales Inc. of America to Alcatel Magnet Wire Inc. Optec Dai-Ichi Denko will also sell Optec D.D. (Portugal) Componentes Electricos, LDA to Alcatel Portugal S.A. The subsidiaries all manufacture or sell magnet wires. Optec D.D. had net profit of $1.8 million on sales of $75.3 million for the fiscal year ended March 31. Optec Sales posted a net loss of $5.6 million on sales of $76.5 million. Optec D.D. (Portugal) recorded a net loss of ESC2.62 billion on sales of ESC1.81 billion for the year ended Dec. 31. The subsidiaries will continue to serve their Japanese clients after the sale, Optec Dai-Ichi said.

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