Friday, March 23, 2012

Oclaro Transfers Chinese Assembly, Test Operations

San Jose-based optical communications and laser manufacturer Oclaro said this week that it is in a definitive agreement to transfer its Shenzhen, China final assembly and test operations to Venture Corporation Limited. Financial details of the move were not disclosed. Oclaro said it will transition the operations over the next three years. The firm said the move will free up in excess of $35M net of transition and employee retention costs, and that it is currently marketing its building with plans to sell to a third party. Oclaro said it expects to continue to maintain long-term customer support, new product introduction, and research and development in Shenzhen.