Corning Inc. announced today that it has agreed to sell its frequency control business to Vectron International Inc...
July 9, 2004
Corning Inc. announced today that it has agreed to sell its frequency control business to Vectron International Inc.
Financial details of the transaction were not disclosed.
Corning Frequency Control (CFC), part of Corning’s telecommunications segment, was acquired in 2000 as part of the company’s purchase of Oak Industries.
CFC designs and manufactures crystal oscillators, resonators, and filters that serve as stable frequency references for a range of wireless and wireline communications technologies.
Vectron International designs, manufactures and markets crystal and Surface Acoustic Wave (SAW) products.
Corning expects to close the transaction in the third quarter of this year and realize a loss of approximately US$25 million pre-tax in its third quarter results.