Tuesday, April 22, 2008 11:17:20 AM
April 18, 2008, Santa Clara, CA--Coherent entered into a definitive agreement to sell certain assets of Coherent's Auburn Optics manufacturing operation to Research Electro-Optics (Boulder, CO), a privately held optics manufacturing and technology company. Consistent with the asset transaction, Coherent and REO have entered into a strategic supply agreement whereby REO will provide optical manufacturing capabilities for Coherent, including fabrication and coating of optical components.
The transition of the optics manufacturing assets from Auburn to Boulder will begin immediately and is expected to be completed no later than the end of the second quarter of fiscal 2009. Coherent will further discuss the transaction during its previously announced second fiscal quarter financial results conference call on April 24, 2008 at 1:30 p.m. PST.
According to an article in The Union newspaper (Grass Valley, CA), the outsourcing move will affect the jobs of about 100 people, including residents who live in southern Nevada County. "It's part of the company's strategy to effectively manage production in cost-effective ways," said Leen Simonet, executive VP and CFO of Coherent. Simonet denied any hardship to local workers, as they would be offered jobs at Research Electro-Optics or provided with help to find work locally. Simonet would not comment on the future of Coherent's manufacturing presence in Auburn. It was unclear whether any manufacturing jobs remain.
For more information, visit www.coherent.com.
Fri Apr 18 09:42:00 CDT 2008
http://www.laserfocusworld.com/display_article/326220/12/none/none/INDUS/Coherent-to-outsource-Auburn-optics-manufacturing-operations
Recent COHR News
- Coherent Awarded Data Center Innovation/Best Product at ECOC 2024 • GlobeNewswire Inc. • 09/24/2024 09:00:00 PM
- Coherent Industry Leaders Speak at ECOC 2024 • GlobeNewswire Inc. • 09/23/2024 08:30:00 PM
- Coherent Announces General Availability of 100G ZR QSFP28-DCO Transceiver • GlobeNewswire Inc. • 09/23/2024 01:00:00 PM
- Coherent to Demonstrate a Broad Portfolio of Innovative Products and Technologies at ECOC 2024 • GlobeNewswire Inc. • 09/23/2024 12:45:00 PM
- Coherent to Demonstrate 1.6T-DR8 and 800G-DR4 Transceivers at ECOC 2024, Showcasing Advanced Multi-Technology Solutions • GlobeNewswire Inc. • 09/23/2024 12:30:00 PM
- Coherent Announces Alpha Availability of Novel Analog Optical Multi-Link Modules • GlobeNewswire Inc. • 09/19/2024 08:30:00 PM
- Coherent Unveils Uncooled Dual-Chip 2x400 mW 980 nm Micro-Pump Laser for Ultra-Compact Optical Amplifiers • GlobeNewswire Inc. • 09/19/2024 10:00:00 AM
- Coherent Announces Industry’s First L-Band 800G ZR/ZR+ Pluggable Transceivers • GlobeNewswire Inc. • 09/17/2024 08:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/16/2024 07:19:35 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/16/2024 06:24:08 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/13/2024 08:35:48 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/13/2024 08:08:10 PM
- Coherent Awarded Phase 3 of IARPA Resilience Program for High-Energy Rechargeable Lithium-Sulfur Batteries • GlobeNewswire Inc. • 09/12/2024 08:30:00 PM
- Coherent Expands Optical Communications Test Portfolio with New WaveShaper and WaveMaker Instruments • GlobeNewswire Inc. • 09/11/2024 10:00:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/04/2024 10:33:15 PM
- Coherent Unveils High-Efficiency Lasers for Silicon Photonics Transceivers • GlobeNewswire Inc. • 08/28/2024 10:00:00 AM
- H&R Block Shares Surge 10% on Profit and Dividend Boost, Applied Materials Drops 3% Despite Strong Earnings, Latest in Earnings • IH Market News • 08/16/2024 09:57:29 AM
- Coherent Corp. Reports Fourth Quarter and Full Year Fiscal 2024 Results • GlobeNewswire Inc. • 08/15/2024 08:05:00 PM
- U.S. Futures Rise on Easing Inflation, Oil Prices Rise • IH Market News • 08/15/2024 10:09:48 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/08/2024 08:12:02 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/01/2024 09:21:02 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/01/2024 08:29:50 PM
- Coherent Announces Date of FY2024 Fourth-Quarter and Fiscal Year-End Results Conference Call • GlobeNewswire Inc. • 08/01/2024 12:30:00 PM
- Coherent Corp. Reaches Milestone in Thirty Meter Telescope (TMT) Project • GlobeNewswire Inc. • 07/25/2024 08:33:53 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/15/2024 08:25:38 PM
Lingerie Fighting Championships Signs Broadcast Deal With Maybacks Global Entertainment • BOTY • Sep 26, 2024 9:00 AM
Maybacks Global Entertainment and Lingerie Fighting Championships Enter Into Broadcast And Revenue Sharing Agreement • AHRO • Sep 26, 2024 8:30 AM
North Bay Resources Commences Operations at Bishop Gold Mill, Inyo County, California; Engages Sabean Group Management Consulting • NBRI • Sep 25, 2024 9:15 AM
CEO David B. Dorwart Anticipates a Bright Future at Good Gaming Inc. Through His Most Recent Shareholder Update • GMER • Sep 25, 2024 8:30 AM
Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • BLOZF • Sep 24, 2024 8:50 AM
Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • INTV • Sep 24, 2024 8:45 AM