News in brief: Bookham, Modulight, conferences
According to Reuters, Nortel Networks is drastically reducing its stake in fiber-optic component maker Bookham Technology.
Investment bank Credit Suisse First Boston is offering around 30 million shares in Bookham in a "book-build" – this in an auction of shares among institutional investors orchestrated by a brokerage firm.
The price of the shares was said to be 67 pence, valuing the sale at GBP 20 million.
Telecom equipment maker Nortel was Bookham s biggest shareholder with a 29.7 percent stake equivalent to 61 million shares, acquired when Bookham took over Nortel optical components group. Bookham issued its 61 million shares to Nortel in October 2002 at 47 pence each.
The deal is equivalent to around 15 percent of the Bookham shares in issue.
By 0930 GMT, Bookham s stock had lost over 15 percent of its value and was trading down 13 pence at 72 pence. The shares recently peaked at 107 pence in June.
Modulight gains ISO14001 certification
Modulight, Inc., a manufacturer of optical semiconductor components based in Tampere, Finland, has successfully certified its ISO14001 environmental management system.
"We have built the environmental management system as an integrated part of our management system to which also ISO 9001:2000 certification was based on," said Petteri Uusimaa, president and CEO of Modulight. "Our philosophy includes providing not only state-of-the-art and cost effective products to existing markets but to do so in an environmentally responsible manner."
Conference news
The Twelfth International Conference on Metal Organic Vapor Phase Epitaxy (ICMOVPE-XII) will be held on May 30 through June 4, 2004 at the Westin Maui Hotel, Lahaina, Hawaii.
The Lighting Research Center is again offering its LED Lighting Institute, a 3-day workshop that will be held at the Center in Troy, New York on September 17-19, 2003. LRC experts will provide instruction for lighting fixture designers and manufacturers, lighting specifiers, and other professionals interested in learning more about this quickly evolving lighting technology.
