Business briefs

11 Oct 2002

Including news from Schott, U.L.M Photonics, TRUMPF, Quantel, Sensors Unlimited and more.

•  Schott, US, is increasing its stake in German VCSEL maker U.L.M Photonics to 52%. Schott now has majority ownership of the two-year-old Ulm University spin-off. "We are pursuing attractive opportunities to apply U.L.M's VCSEL technology in applications inside and out side the telecom and datacom markets," said Karl-Peter Merz, chairman of the board of directors of Schott Optovance.

Due to current market conditions, Schott has also announced it will sell, spin-in or close its Schott Optovance division by the end of the year.

•  Industrial laser maker TRUMPF, has posted annual sales of EURO 1.17 billion (USD 1.04 billion) for the year ended 30 June 2002, down 4.4% on last year's figure of EURO 1.22 billion. Sales in the Laser Technology and Electronics and Medical Technology divisions grew 12% and 27% respectively, while the Machine Tools and Power Tools divisions saw sales decrease 9.2% and 8.3% respectively over the same period.

•  Transmode Systems of Sweden, a developer of coarse wavelength-division multiplexing technology, has secured USD 8 million in third round funding. The company will use the cash to develop its existing products and expand its global sales. The funding round was lead by existing investors Amadeus Capital and European Equity Partners.

•  French laser maker Quantel has reported sales of EURO 15.8 million for the first half of 2002, up 6.8% from the same period last year. The company, which sells scientific, industrial and medical lasers, also recorded a net profit of EURO 0.31 million.

•  The management of Sensors Unlimited, the US maker of positive-intrinsic-negative diodes and avalanche photodiodes, is to buy-out of parent company Finisar in a deal worth USD 6.1 million in cash. Having bought the company two-years-ago for USD 700 million, Finisar will now retain only a small interest in the new company.

Finisar has also announced it is to close its facility in Hayward, California, US. Together with the transfer of assets to the management group of Sensors Unlimited, Finisar will have reduced its total US workforce by over 30% this year.