Lucent Technologies sells optical fiber business for $2.75 billion

July 24, 2001
July 24, 2001--Lucent Technologies announced it has agreed to sell its Optical Fiber Solutions business for $2.75 billion to Furukawa Electric Co., Ltd. and Corning Incorporated.

Lucent Technologies (NYSE: LU) announced it has agreed to sell its Optical Fiber Solutions (OFS) business for $2.75 billion to Furukawa Electric Co., Ltd. (Tokyo: 5801) and Corning Incorporated. (NYSE: GLW).

Lucent will receive $2.525 billion from Furukawa for the major portion of the business. Corning will pay $225 million in cash for Lucent's interests in two joint ventures in China -- Lucent Technologies Shanghai Fiber Optic Co. Ltd. and Lucent Technologies Beijing Fiber Optic Cable Co., Ltd. In addition, Furukawa and CommScope (NYSE: CTV) have agreed to enter into one or more joint ventures that will be formed to operate the OFS businesses. Up to $250 million of Furukawa's payment to Lucent may be in CommScope securities.

The sale to Furukawa, which is subject to regulatory approval and other customary closing conditions, is targeted to close toward the end of the third calendar quarter. Sale of Lucent's interest in the China joint ventures is subject to various approvals, including Chinese governmental approval.

Lucent's Optical Fiber Solutions business employs more than 6,000 people, with its headquarters and largest manufacturing facility located in Norcross, Ga., a suburb of Atlanta. It also has wholly owned and joint-venture facilities in Carrollton, Ga., Massachusetts, North Carolina, New Jersey, Connecticut, Denmark, China, Japan, Russia, Germany and Brazil.

About Lucent Technologies:

Lucent Technologies, headquartered in Murray Hill, N.J., USA, designs and delivers systems, software and services for next-generation communications networks for service providers and enterprises. For more information, visit www.lucent.com.

Sponsored Recommendations

March 25, 2025
Explore how government initiatives and industry innovations are transforming rural broadband deployments, overcoming cost and logistical challenges to connect underserved areas...
March 12, 2025
Join us for an engaging discussion with industry experts on the intersection of AI and optics. Moderated by Sean Buckley, editor-in-chief of Lightwave+BTR, this panel will explore...
April 9, 2025
As transceiver speeds increase, so do thermal challenges. Discover key insights into innovative cooling solutions that ensure optimal performance and reliability.
April 10, 2025
The value of pluggable optics in open-line systems is also becoming more apparent. This webinar describes this trend and explores how such modules can best be employed. Register...