Founded in 1973, Marlow Industries, Inc. is a leader in the design and manufacture of thermoelectric coolers (TECs) for a variety of telecommunications applications as well as for defense, space, photonics (infrared sensing) and medical applications. Within telecommunications, Marlow Industries believes that it is the leading supplier of thermoelectric coolers used to control the temperature of a variety of active and passive optical componentsSome of the active components are 1300nm-1550nm distributed feedback lasers (DFBs) used in dense wavelength division multiplexing (DWDM) applications, 980nm and 1480nm pump laser diodes used in optical amplifiers, and high speed avalanche photo diodes (APDs). Passive components using Marlow’s TECs include arrayed wave guides (AWGs), optical multiplexers and demultiplexers, optical switches and variable optical attenuators (VOAs). In keeping with its mission to provide customers innovative thermoelectric cooling solutions of the highest quality, Marlow Industries implemented a total quality system that led to the Malcolm Baldrige National Quality Award in 1991. In addition, Marlow Industries is ISO 9001 certified and has received numerous awards such as Industry Week ‘s Best Plant Award.
The transaction will be accounted for as a purchase and is intended to qualify as a tax-free reorganization. The acquisition is expected to close during the second calendar quarter of 2001 and is subject to approval by Marlow’s shareholders, the notification requirements of the Hart-Scott-Rodino Antitrust Act, the approval by Finisar’s stockholders of an increase in Finisar’s authorized Common Stock and other customary conditions.
Marlow Industries provides a unique technology base from which to develop new innovative products for high-speed data communications, said Jerry Rawls, Finisar’s President and CEO. They have a world class team of scientists and engineers devoted to the development of new materials and processes used for thermoelectric cooling, added Rawls. With the addition of Marlow Industries and their materials technology, we believe we will be able to develop novel solutions for optical packaging that will enable us to deliver higher performance and lower cost devices.
In light of the growing importance of thermoelectric cooling to the telecommunications industry, it was important for us to seek a strategic partner where we could leverage our technology leadership, said Raymond Marlow, founder, Chairman and CEO of Marlow Industries. It became very clear to us that Finisar is moving quickly to assemble a formidable array of technologies that can be integrated with our products to develop innovative, thermally stabilized, optical solutions for the data communications industry, added Marlow. Furthermore, we were looking for a partner that understands the value of a quality system as it applies to our employees and customers, as well as our products. Finisar shares these same standards of excellence.
