Optical Communication Products, Inc. Announces Closing of Transaction with GigaComm Corporation
25 Agosto 2006 - 2:01PM
Business Wire
Optical Communication Products, Inc. (NASDAQ:OCPI), a leading
manufacturer of optical subsystems and modules, today announced it
has completed its acquisition of privately-held GigaComm
Corporation, a Taiwan-based supplier of passive optical network
(PON) fiber-to-the-home (FTTH) components, as previously announced
on July 13, 2006. About Optical Communication Products: OCP
designs, manufactures and sells a comprehensive line of high
performance, highly reliable fiber optic subsystems and modules for
metropolitan area, local area and storage area networks. OCP's
subsystems and modules include optical transmitters, receivers,
transceivers and transponders that convert electronic signals into
optical signals and back to electronic signals, enabling high-speed
communication of voice and data traffic over public and private
fiber optic networks. Its strategy calls for more comprehensive
product offerings, a balance between growth and industry-leading
financial strength, and concerted penetration of global markets.
For more information visit OCP's web site at www.ocp-inc.com or the
www.globalprovince.com link to Investor Digest. OCP was founded in
1991 and has its headquarters in Woodland Hills, California.
Furukawa Electric Co. Ltd., based in Tokyo, beneficially owns 58%
of OCP's outstanding capital stock as of June 30, 2006. OCP
currently has approximately 370 employees. About GigaComm: GigaComm
was founded in 2000, has its headquarters and manufacturing
facilities in the Hsinchu Science-Based Industrial Park in Taiwan,
ROC, and has approximately 300 employees. GigaComm has been
privately financed since its inception by a syndicate of
institutional and private investors in Taiwan. Safe Harbor
Statement under the Private Securities Litigation Reform Act of
1995: This release contains forward-looking statements that involve
risks and uncertainties. Actual results may differ materially from
the results predicted. Important factors which could cause actual
results to differ materially from those expressed or implied in the
forward-looking statements include those detailed under "Risk
Factors" and elsewhere in filings with the Securities and Exchange
Commission made from time to time by OCP, including its periodic
filings on Forms 10-K, 10-Q and 8-K. Other factors that could cause
our actual results to differ materially from those expressed or
implied in the forward-looking statements include (A) factors
relating to the Company and the fiber optic communications
industry, such as (i) the risk that our customers are unable to
reduce their inventory levels in the near-term and (ii) the risk
that we are unable to diversify and increase our customer base; (B)
factors relating to the acquisition of GigaComm, such as (i) the
possibility that the anticipated benefits from the acquisition
cannot be fully realized, (ii) our ability to successfully
integrate the operations of GigaComm with those of OCP, and the
possibility that costs or difficulties related to the integration
will be greater than expected, (iii) our ability to implement
future business and acquisition strategies, and (iv) our ability to
retain personnel of GigaComm; and (C) factors relating to doing
business in Taiwan, such as (i) risks relating to political and
diplomatic issues between Taiwan and The People's Republic of
China, (ii) risk of natural disasters in Taiwan, such as
earthquakes and typhoons, (iii) economic and regulatory
developments, (iv) potential difficulty in enforcing agreements and
recovering damages for their breach, (v) exposure to greater risk
of misappropriation of intellectual property, (vi) disruption of
air transportation from Asia, (vii) changes in tax laws, tariffs
and freight rates, (viii) difficulty of managing global operations,
including staffing and managing foreign operations, (ix) differing
labor regulations, and (x) foreign currency risk. OCP undertakes no
obligation to release publicly any revisions to any forward-looking
statements to reflect events or circumstances after the date hereof
or to reflect the occurrence of unanticipated events.
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