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ADC to exit optical components business

MINNEAPOLIS-Following ADC Telecommunications Inc.’s earlier announcement it intended to lower its quarterly break-even sales point toward $250 million per quarter from its original goal of $300 million, the company has decided to exit the optical components business and will sell or close these product lines.

ADC’s optical component products include its complete line of passive and active optical components, including tunable and pump lasers and facilities in Canberra, Australia; Jarfalla, Sweden; and Vadnais Heights and Shakopee, Minn.

ADC will cease all development and marketing of its Avidia DSL Access Multiplexer product immediately.

In its 2002 fiscal year to date, ADC has closed 41 facilities worldwide, with additional facility closures and consolidations to take place over the remainder of the fiscal year. ADC said it has also moved certain manufacturing operations to outsourced suppliers and will continue to explore other outsourcing opportunities for certain product areas to improve costs and time to market.

The facilities closures and consolidation efforts have resulted in approximately 3,300 employee layoffs during the past fiscal year, and ADC said it will complete additional work force reductions through the remainder of the year.


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