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Finisar Expands Presence in China With New High-Volume Manufacturing Facility
SHANGHAI, CHINA and SUNNYVALE, CA, Oct 23, 2008 (MARKET WIRE via COMTEX News Network) -- Today in Shanghai, Finisar Corporation (NASDAQ: FNSR), a global technology leader for fiber optics subsystems and network test systems, celebrated the opening of its new state-of-the-art manufacturing and R&D facility. Designed specifically for high-volume, cost-effective optics production, this facility also furthers development efforts and enables lower-cost manufacturing of its advanced optical components including lasers and passive devices. The opening ceremony, attended by Shanghai dignitaries and Finisar executives, reaffirmed the importance of the China market and Finisar's commitment to strengthening its customer relationships in Asia.
Finisar's $3 million investment in the new Shanghai facility supports the company's ongoing research and development efforts and enhances its volume manufacturing capabilities for active and passive components used in its own transceivers as well as the merchant market. With a local staff of 650, this new site provides 15,000 square meters of manufacturing, clean room, and office space, nearly three times the capacity of the previous site. As of this date, the company has completed product qualification and is in full operation.
"We are excited to open this facility and further expand our operations in Shanghai, China, as this represents a very important market in the fiber optics industry," said Joe Young, senior vice president and general manager of Optics at Finisar. "By being vertically integrated with our other manufacturing sites around the globe -- Fremont, CA and Ipoh, Malaysia, for example -- this facility is now a part of a larger operation committed to the volume production of high-quality optical components."
Over the last two decades, Finisar has focused on developing critical high-volume manufacturing capabilities to enable superior performance and cost-effective optical communication products for the data networking and telecommunication markets. This strategy has established the company as the volume-leader in the fiber optics communications industry. Finisar ships nearly one million optical transceivers per month and 1.5 million free space isolators annually.
About Finisar
Finisar Corporation (NASDAQ: FNSR) is a global technology leader for fiber optic subsystems and network test systems that enable high-speed voice, video and data communications for networking, storage, wireless, and cable TV applications. For more than 20 years, Finisar has provided critical optics technologies to system manufacturers to meet the increasing demands for network bandwidth and storage. Finisar is headquartered in Sunnyvale, California, USA with R&D, manufacturing sites, and sales offices worldwide. For additional information, visit www.finisar.com.
MEDIA CONTACT: Victoria McDonald Finisar Corporation (408) 542-4261 victoria.mcdonald@finisar.com
SOURCE: Finisar
mailto:victoria.mcdonald@finisar.com
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