News: Optoelectronics
19 December 2022
Emcore announces sale and leaseback of Tinley Park, IL facility
Emcore Corp of Alhambra, CA, USA – which provides mixed-signal products for the aerospace & defense, communications and sensing markets – says that, pursuant to a purchase and sale agreement entered into on 1 November, it has completed the sale and leaseback of its Tinley Park, IL facility, generating $10.3m in net cash proceeds.
Emcore has vertically integrated manufacturing capability at its facilities in Alhambra, CA, Budd Lake, NJ, Concord, CA, and Tinley Park, IL. The firm leverages photonic integrated circuit (PIC), quartz MEMS, lithium niobate, and indium phosphide chip-level technology to deliver component- and system-level products across its end-market applications including navigation and inertial sensing, defense optoelectronics, broadband communications, optical sensing, and specialty chips for telecoms and data centers.
On 11 August, Emcore announced the acquisition of the Fiber Optic Gyroscope (FOG) and Inertial Navigation Systems business segment of KVH Industries Inc, including all its intellectual property and outstanding assets and liabilities, and the 100,384ft2 production facility in Tinley Park. The EBITDA-positive acquisition adds a new business generating over $30m in revenue on an annual basis (with an established customer base in the Army and a variety of terrestrial applications, while opening up new opportunities in the growing industrial autonomy market). Synergies are anticipated for the next two years.
Emcore completes sale and leaseback of Concord facility, generating $12.8m
