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Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: Softechie who wrote (34468)	9/6/2001 10:35:23 AM
From: Jane4IceCream	Read Replies (1) \| Respond to of 37746

Started a l-o-n-g portfolio yest with GX <3.38 and more this morn at 3.38> and NXTL <9.60>. Go figure. Jane

To: Softechie who wrote (34468)	9/6/2001 11:14:13 AM
From: Jim Spitz	Read Replies (1) \| Respond to of 37746

ADC sells divisions Sherri Cruz Star Tribune Published Sep 6 2001 ADC Telecommunications is shrinking yet again -- in more ways than one. Platinum Equity, a technology holding company, announced Wednesday that it acquired two of ADC's business units for an undisclosed amount. It purchased the Access Products Division and the Broadband Wireless Group, which combined employ about 350 people, none of whom are based in the Twin Cities. The sale is not a surprise -- ADC announced its intentions to begin selling product lines a few months ago. 'We have some additional product lines we're marketing,' said Rob Clark, spokesman for ADC. He wouldn't say what those were but said the company is focused on four areas: optics, digital subscriber line, cable network products and software. Those areas fall under ADC's two remaining business groups: broadband connectivity products and integrated solutions. By the end of this fiscal year, ADC intends to be fully morphed and divested, with 9,500 employees, Clark said. As ADC's stock price continues to fall -- closing at $3.99 Wednesday, down 9 cents -- companies such as privately held Platinum Equity are sweeping up. The company, based in Los Angeles, buys divisions of larger companies and spins them off as stand-alone entities. ADC's two divisions are Platinum's 12th and 13th acquisition in the past year. 'It's been a good time for us,' said Alanna Chaffin, spokeswoman for Platinum Equity. ADC also said it is selling its two manufacturing sites in Shakopee's Valley Green Business Park, a combined 670,000 square feet of space. One facility is priced at $23 million, the other is $18 million. Once ADC sells those two facilities it will resume building its own Shakopee facility, which was mothballed last May as ADC's financial woes began to mount. The building will house the 1,100 ADC employees at the two for-sale facilities. ADC has completed its move to its new Eden Prairie headquarters. -- Sherri Cruz is at scruz@startribune.com . © Copyright 2001 Star Tribune. All rights reserved.