MIDDLEFIELD, Conn., Sept. 27 -- Zygo Corp. said that it will dispose of its Zygo TeraOptix business unit and facility located in Westborough, Mass. Zygo will discontinue its telecommunications business in Westborough no later than November 30, 2002. The disposition of this business unit effectively terminates the company's venture into the telecommunications business. The Zygo TeraOptix operation had sales for the year ended June 30, 2002 of $4,158,000, or 5 percent, of Zygo's consolidated sales.
The company said that because of changes in the telecommunications industry, including excess capacity, capital spending cutbacks, and delays in deployment of high-speed technologies, demand for the components produced by Zygo TeraOptix has significantly decreased. Disposition of the Zygo TeraOptix business unit will allow Zygo to concentrate on growth and profitability in its other two markets, semiconductor and industrial. For more information: www.zygo.com.