Zygo to dispose of TeraOptix business unit
30 September 2002 -- Zygo is seeking a buyer for its Zygo TeraOptix business unit, effectively terminating its venture into telecoms.
30 September 2002 -- Zygo Corp - which is headquartered in Middlefield, Connecticut, USA - is seeking a buyer for its Zygo TeraOptix business unit and facility in Westborough, Massachusetts.
Zygo will discontinue its telecoms business no later than end-November, effectively terminating its venture into telecoms. The TeraOptix operation had sales for the fiscal year (to end-June) of USD4.16m, 5% of Zygo's consolidated sales.
Zygo says that disposal of the TeraOptix business unit will allow it to concentrate on growth and profitability in its other two markets, semiconductor and industrial.