Business briefs
17 Jun 2002
Including news from Cambridge Display Technology, PerkinElmer, Northrop Grumman, TRW and more.
PerkinElmer of the US is to restructure its
optoelectronics unit in response to slow growth in the life science and analytical instruments markets and decreased optoelectronics sales. The company will axe 500 jobs across the corporation and take a restructuring charge of USD 10 million to USD 15 million against first quarter earnings.
The board of directors of defense technology giant
TRW has advised its shareholders to take no action following
Northrop Grumman's bid to acquire TRW for USD 47 per share in stock. Philip Odeen, chairman of TRW said: "This is all about shareholder value. The Northrop Grumman proposal does not begin to recognize the value of TRW's franchise."
Cambridge Display Technology (CDT), has teamed up with fellow UK-based company
Plastic Logic to develop polymer organic electronics. David Fyfe, chief executive officer of CDT said: "We are currently focused on different markets. As polymer electronics technology matures though, this agreement will become increasingly important to us and our customers."
Photronics, a developer of photomasks, is to build a fabrication facility in the
Zhangjiang Hi-Tech Park, Shanghai. The company expects the facility to open early in 2003 and will use it to expand its operations into China's growing semiconductor and wafer foundry industries.
Onetta, a US-based developer of intelligent optical engines, has announced a distribution agreement with
AMS Technologies, Germany. Onetta will use the partnership to expand its sales into the European market.
Author
Jacqueline Hewett is news reporter on Optics.org and Opto & Laser Europe magazine.
