API Moves Microfab Ops to Michigan

CAMARILLO, Calif., Jan. 19, 2006 -- Taking advantage of over $1 million in tax credits and expected local property tax abatements, Advanced Photonix Inc. (API) announced that it will consolidate its California and Wisconsin semiconductor microfabrication operations into the Ann Arbor, Mich., facility leased by its wholly owned subsidiary, Picometrix. The consolidation is expected to be completed within the next 12 to 14 months.

API provides high-speed optical receivers used in telecommunications, optoelectronic solutions and terahertz instrumentation to OEMs. The company acquired Ann Arbor-based Picometrix in March 2005. API said it will benefit from the move through a Single Business Tax credit valued at more than $1.1 million over 10 years, which has been approved by the Michigan Economic Development Corp. Additional local real property tax abatements are also expected.

As part of the decision to relocate the semiconductor microfab to Ann Arbor, the company will also relocate its corporate offices there from Camarillo, Calif. API will continue to perform packaging and assembly operations from its California and Wisconsin facilities, officials said.

For more information, visit: www.advancedphotonix.com