Wednesday, June 3, 2009

Firm Sells Tucson Operations

A California firm, Newport Corporation, is selling its high-power, diode laser manufacturing operations in Tucson, as part of a corporate swap with another California company, Oclaro, the firms said today. According to Newport Corporation and Oclaro, Oclaro will acquire Newport's high power diode laser manufacturing operations in Tucson as part of a swap of assets and cash between the two firms. In exchange for those operations, the two said that Newport will acquire Oclaro's opto-electronics and related business, New Focus. Impact on the Tucson operations, in terms of employment, were not disclosed by the companies.