Japan“s Nippon Sheet Glass Co. said it will sell Epitaxx Inc., a US-based company which makes optical detectors and receivers, to JDS Uniphase Corp. in California for US$ 400 million in stock.
The b…
Japan“s Nippon Sheet Glass Co. said it will sell Epitaxx Inc., a US-based company which makes optical detectors and receivers, to JDS Uniphase Corp. in California for US$ 400 million in stock. The business transfer is subject to certain government approvals in the US, Nippon Sheet Glass said. The Japanese glass manufacturer“s wholly owned US subsidiary currently holds 5.09 million shares, or a 87% stake, in Epitaxx. By exchanging all of the 87% stake in Epitaxx to some 2%-worth of JDS Uniphase common shares, Nippon Sheet Glass will post a 35 billion yen group special profit this year through March 2000, it said. JDS Uniphase is a supplier of fibre optics communications products, and also a major customer of Nippon Sheet Glass for its micro-lenses. The latest move is expected to strengthen the two companies“ relationship, particularly in the rapidly growing fibre optics telecommunications market, the Japanese company said.