EW News 18/02/2004 - Opto firm on sale again to save jobsOpto firm on sale again to save jobs Ian Broatch
The business formerly trading as Kymata is to be sold yet again, this time by current owners Avanex in a deal that saves the site from closure.
However, the new owners, US-based Gemfire, intend to retain 20 to 30 staff of the 100 working there at the moment.
Avanex, which acquired the firm from Alcatel in May, announced its intention in November to either close or sell the site, which was once billed as a rival to Bookham Technology.
The deal means Avanex will take a minority interest in GC Holdings, the parent company of Gemfire. Avanex's Fibre Bragg Gratings (FBGs) and thin-film filter products produced at the site will probably be made at its active components operation in France, although this is yet to be finalised.