Spectra-Physics Realigns Organization For Growth
Source: Spectra-Physics
Mountain View, CA. Spectra-Physics (Nasdaq:SPLI), a majority-owned subsidiary of Thermo Electron Corporation (NYSE:TMO), today announced that it has realigned the organization of its business units to support growth in telecommunications and other strategic markets.
Effective immediately, the company s new management infrastructure includes three operating groups under the direction of long-time Spectra-Physics executives:
The SP Passive Telecommunications Group is a high-volume supplier of precision optical components and fiber optic assemblies to the passive components segment of the telecommunications market. It consists of three business units: Passive Components, Optical Systems, and Feeder Plant and External Optics. This group also continues to provide precision optics, metal fabrication and fiber optic assemblies to other business units within Spectra-Physics.
The SP Active Telecommunications Group is a high-volume supplier of high-power semiconductor lasers, high-power multi-mode pump lasers, semiconductor-pumped fiber lasers, and other products for the active components segment of the telecommunications market. This group consists of two business units: Opto Power and Active Telecom Systems.
The SP Lasers Group is responsible for all laser business in the industrial, OEM and research markets. It consists of four business units: Industrial and Scientific Lasers, OEM, Commercial Lasers, and Laser Analytical Systems (LAS), a wholly owned subsidiary resulting from the recent acquisition of LAS GmbH, a German manufacturer of ultraviolet solid state lasers and accessories (see news release dated September 5, 2000).
The SP Distribution Group, which is responsible for worldwide sales of Spectra-Physics products, has added a new business unit, Worldwide Telecommunications, to focus global distribution operations for the passive and active components segments. This group continues under the direction of Leif Alexandersson as senior vice president.
"We believe that the new infrastructure effectively balances our management resources between strategic direction and day-to-day operations, both of which are essential to sustained growth," said Patrick L. Edsell, chairman, president and chief executive officer of Spectra-Physics. "More importantly, it increases our focus on high-growth passive and active telecomm opportunities, while ensuring that we maintain our leadership position in the semiconductor-based laser markets."
The Company
Founded in 1961, Spectra-Physics is the leading supplier of high-power semiconductor and solid state laser systems. More than 95 percent of Spectra-Physics total revenues come from a diverse range of photonics applications in six strategic markets: telecommunications, computer and microelectronics manufacturing, industrial manufacturing, image recording, medical, and research. The company s manufacturing operations are based in Mountain View and Oroville, California, and in Tucson, Arizona. International operations consist of subsidiaries located in France, Germany, Japan, the Netherlands, and the United Kingdom and distributors in 30 additional countries worldwide. Spectra-Physics Web site is located at http://www.spectra-physics.com.
The matters discussed in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Certain forward-looking statements can be identified by the use of forward-looking terminology, such as believes, expects, may, will, should, seeks, approximately, intends, plans, estimates, looks forward to, or anticipates, or the negative thereof or other comparable terminology, or by discussions of strategy, plans or intentions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected. These include risks associated with sole suppliers and limited sources, the complexity of Spectra-Physics manufacturing processes, successful identification of new markets, rapid and fundamental technological changes affecting the laser industry, dependence on proprietary technology, international sales, competitive pressures, success of strategic initiatives, and other factors discussed from time to time in the forms and reports filed by Spectra-Physics with the Securities and Exchange Commission (SEC), such as the Form 10-K dated March 24, 2000 and the Form 10-Q dated August 10, 2000. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Spectra-Physics assumes no obligation to update information contained in this release.
Contact: Patrick L. Edsell Spectra-Physics Phone: 650-966-5555 http://www.spectra-physics.com
Patrick L. Edsell
Spectra-Physics
Phone: 650-966-5555
http://www.spectra-physics.com
Web site: http://www.spectra-physics.com
