Corning Incorporated announced 8 July 2004 that it has agreed to sell its frequency control business to Vectron International, Incorporated. Financial details of the transaction are not being disclose…
Corning Incorporated announced 8 July 2004 that it has agreed to sell its frequency control business to Vectron International, Incorporated. Financial details of the transaction are not being disclosed. Corning Frequency Control (CFC), part of Corning“s telecommunications segment, was acquired in 2000 as part of Corning“s purchase of Oak Industries. CFC designs and manufactures precision crystal oscillators, resonators, and filters. Corning expects to close the transaction in the 3Q of 2004 and realize a loss of approximately USD 25 million pre-tax in its 3Q results including the allocation of a portion of the telecommunications segment“s goodwill