BreconRidge buys Nortel module unit

Fiber Optics Weekly Update, August 1, 2003

BreconRidge Manufacturing Solutions Corp., a top 50 global electronics manufacturing services company, announced that it has signed a definitive agreement to acquire certain assets of the High-Speed Modules business unit of Nortel Networks. The transaction is expected to close in mid-August 2003. The assets to be acquired relate to the design, development, manufacturing, test and sale of high-speed modules applicable to optical and wireless transmission systems, satellite communications systems, radar systems for the defense industry and other microelectronics applications with speeds greater than 10 Gbit/s. BreconRidge is also pleased to announce that as part of the transaction, the companies will also enter into a three-year supply agreement under which BreconRidge will be a supplier of highspeed modules for use in Nortel Networks' 10 Gbit/ s optical transmission systems.

As part of the transaction, BreconRidge will also acquire Nortel Networks' leasehold interest in the facility located at 500 Palladium Drive, Ottawa. This state-of-the-art facility consists of approximately 330,000 square feet of highly advanced manufacturing and office space, including, 70,000 square feet of "class 10,000 clean room" and 10,000 square feet of "class 1,000 clean room." BreconRidge plans to consolidate its Canadian operations, including its High Speed Modules business, into this facility and establish 500 Palladium Drive as its worldwide headquarters.