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February 3, 2010
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| 09:52 EDT |  | EMKR |
| theflyonthewall.com: | Emcore to sell majority interest in fiber optics business | | EMCORE Corporation has entered into a share purchase agreement to create a joint venture with Tangshan Caofeidian Investment Corporation, a Chinese investment company located in Caofeidian Industry Zone, Tangshan City, Hebei Province of China. The agreement provides for TCIC to purchase a 60% interest in EMCORE's Fiber Optics business excluding its satellite communications and specialty photonics fiber optics product lines, which will be operated as a joint venture once the transaction is closed. The new joint venture entity will be named EMCORE Fiber Optics, Limited, and registered in Hong Kong. The agreement provides for TCIC to pay EMCORE approximately $27.8 million in cash and provide an additional funding of $27 million to EFO after the closing. :theflyonthewall.com |
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January 27, 2010
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| 08:33 EDT | | EMKR |
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