YONKERS, N.Y., Oct. 8 -- Schott announced it is restructuring Schott Optovance Inc. (Southbridge, Mass.) due to current market conditions. Schott Optovance makes fiber management components for parallel optical interconnects and high-density planar optical components. The company will be sold, spun-in or closed by the end of the year, Schott said. Supplies of products to its approximately 20 customers will be maintained during the restructuring, the company said.
Schott also announced it is increasing its stake in the university spinoff U.L.M. Photonics GmbH (Ulm, Germany) to 52 percent, thereby acquiring majority ownership of the vertical cavity surface-emitting laser developer.
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