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|Hitachi Plans Transfer of Its Semiconductor and
Circuits Groups (SIC) Opto-Device Division to OpNext, Inc.
Eatontown, NJ June 11, 2002; Tokyo, JAPAN June 12, 2002- Hitachi,
Ltd. (NYSE: HIT/TSE:6501) and OpNext, Inc., a global leader in high
performance optical networking components, today announced that they
have entered into detailed discussions to transfer Hitachi's opto-device
division of SIC to OpNext. The transfer is anticipated to be effective
October 1, 2002.
The transaction will cover the opto-device division of the SIC as well as the opto-electrical device development and manufacturing team and fabrication facilities from Hitachi Tohbu Semiconductors, Ltd.
SIC designs, manufactures and sells devices and modules for the access communication, fiber-optic backbone and metro markets, in addition to the information and industry markets. SIC has developed unique technologies in lasers, receivers, and packaging, including high-power lasers, and maintains low-cost mass production capabilities.
As a result of this transfer, OpNext will provide a higher level of service to its device users, while strengthening its market position and enhancing its current product portfolio consisting of transceivers, transmitters, receivers and laser diode modules. All of SIC's existing customers will be fully supported by OpNext after the merger.
"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 chief executive officer of OpNext. "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."
About OpNext, Inc.
About Tohbu Semiconductor, Ltd.
|Information contained in this news release is current as of the date of the press announcement, but may be subject to change without prior notice.|
|WRITTEN BY Corporate Communications Division