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Article: Uniroyal Technology Corporation Signs Letter of Intent To Acquire Emcore's Interest in Uniroyal Optoelectronics.
- Article from:
- PR Newswire
- Article date:
- July 23, 2001
CopyrightCOPYRIGHT 2001 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SARASOTA, Fla., July 23 /PRNewswire/ --
Uniroyal Technology Corporation (Nasdaq: UTCI) announced today the signing of a letter of intent with Emcore Corporation ("Emcore") to buy out Emcore's minority ownership position in Uniroyal Optoelectronics, LLC (UOE). As of June 30, 2001, Uniroyal's ownership interest in the Optoelectronics joint venture was 64%. The transaction is subject to certain mutually acceptable conditions including the approval by the Boards of Directors of Uniroyal and Emcore. It is contemplated that shares of Uniroyal common stock will be issued to Emcore in the transaction.
Howard R. Curd, Chairman and Chief Executive Officer of ...