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To: StanX Long who wrote (64303)	6/11/2002 11:57:55 PM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Hitachi to Transfer Optical Device Division to OpNext Electronic News Online staff -- 6/11/2002 3:49:00 PM e-insite.net Hitachi Ltd. today announced plans to transfer its semiconductor and ICs group’s (SIC) opto-device division to OpNext Inc. Also included in the transfer is the opto-electrical device development and manufacturing team and fabrication facilities from subsidiary Hitachi Tohbu Semiconductors Ltd. The companies have begun detailed discussions for the transfer, which is expected to take place Oct. 1. Eatontown, N.J.-based OpNext was formed from Hitachi’s fiber optic components business last year. The transfer will provide it with technologies in lasers, receivers and packaging. OpNext’s current focus is its optical components business, which consists of transceivers, transmitters, receivers, and laser diode modules. The transfer will also allow OpNext to diversify its product offerings to include system LSIs. 'The transfer of the opto-device division and its technology offerings brings our customers proven, advanced IC technology that will be a perfect complement to our existing optical components business,' said Harry Bosco, president and CEO of OpNext, in a statement. 'Along with our new division comes world-class expertise in system LSI as well as demonstrated competence in mass producing high quality optical devices. This merger is in line with Hitachi’s strategic vision for OpNext to maximize the value of its technology assets and create a world-class customer focused organization.' SIC designs and manufactures devices and modules for the access communication, fiber-optic backbone and metro markets.