Technical Insight
Uniroyal buys Emcore's interest in UOE (Headline News)
Uniroyal Technology Corporation (UTC) has purchased Emcore s minority ownership in Uniroyal Optoelectronics (UOE), the joint venture established in 1998 to develop and manufacture high-brightness nitride-based LEDs. UTC, which owned 64% of UOE at the end of June, purchased the remaining shares from Emcore for just under 2 million shares of Uniroyal common stock. "This is a unique way to maximize shareholder value for both Uniroyal Technology and Emcore," said Howard Curd, Uniroyal s chairman and CEO. "At the same time, we are pleased with the confidence Emcore has shown in Uniroyal Technology, and we look forward to a long-term relationship with them, both as a supplier and as a shareholder." UTC s compound semiconductor and optoelectronics business segment includes UOE, Sterling Semiconductor, which manufactures SiC substrates and epiwafers, and NorLux, a subsidiary developing products for solid-state lighting applications. UOE recently completed the expansion of its epitaxy facility in Tampa, Florida, including the installation of several new reactors (see Compound Semiconductor August 2001, p19). The company s blue InGaN-on-sapphire LEDs exhibit brightness levels ranging from 3.5 to 4 mW in die form, and 8 to 10 mW in packages. According to marketing communications manager Linda Emery, the company s long term strategic plan is to divest non-semiconductor related interests. "Our strategic goal is to become a pure-play high-technology company," she says. Last year, UTC sold its high performance plastics interest, and recently announced its intention to sell the specialty adhesives business, leaving coated fabrics as the company s last industrial business group. UV Florida develops UV LEDs UOE has announced a long-term collaborative project with three Florida universities to develop UV LEDs for white light emitters see p19 for more details.
