CommScope, Inc. (NYSE: CTV) announced a revised closing date for the previously announced, planned joint ventures with Furukawa Electric Co., Ltd of Japan (Tokyo: 5801) for a portion of Lucent's (NYSE: LU) optical fiber business. CommScope currently expects to close the joint ventures by the end of October 2001, subject to closing conditions and various regulatory approvals. CommScope stated that the primary reason for the delay in closing was the impact of the terrorist attacks that occurred on September 11, 2001.
This transaction is part of a $2.75 billion purchase by Furukawa and Corning Inc. (NYSE: GLW) of Lucent's entire Optical Fiber Solutions business, which includes the Optical Fiber and Cable business (including specialty and transmission); Fiber Optic Apparatus business; and Specialty Fiber Devices business. CommScope and Furukawa plan to enter into two joint ventures, one for the fiber cable portion of Lucent's fiber optic business and one for the transmission optical fiber portion of the same business.
About CommScope:
CommScope is a manufacturer of broadband coaxial cable for Hybrid Fiber Coaxial (HFC) applications and is a supplier of high-performance fiber optic and twisted pair cables for LAN, wireless and other communications applications. For more information, visit www.commscope.com.