CoorsTek, Inc. (Nasdaq: CRTK), a designer and manufacturer of critical components and integrated assemblies for the semiconductor capital equipment industry and other high technology applications, announced that it is expanding capacity at its Grand Junction, Colorado facility to accommodate growing demand for ceramic ferrules, which are critical components of fiber optic connectors and cables. Additionally, the Company is broadening its capabilities to provide cable assembly services for its customers. As a result, CoorsTek's range of service in this area of the optoelectronics market will expand beyond making ferrules to include offering assembled connectors and terminated fiber optic cables.
The CoorsTek expansion in Grand Junction, Colorado will create approximately 75 new jobs by the end of the first quarter of 2002. In recognition of the importance of this expansion to the local community, the Grand Junction City Council is awarding CoorsTek cash incentive funds. The city will also offer tax credits under the Colorado Enterprise Zone Act and job training assistance.
CoorsTek has been manufacturing ceramic components for the telecommunications industry for over 35 years. In addition to ferrules, other telecommunications products include hermetic packages for cell phone and base station applications and ceramic substrates for high-speed switching and optoelectronics applications. These products currently account for over $60 million of CoorsTek's revenue. Underlying contracts and relationships support the Company's planned ferrule and assembly expansion. This operation, coupled with growth in other areas of the telecommunications market, could result in an approximate 20 percent increase in revenue from this industry in 2001.
About CoorsTek :
CoorsTek is a developer of engineering solutions for a variety of manufactured components and integrated systems made from ceramics, metals, and plastics.