EMCORE Announces Sale and Leaseback of Tinley Park, IL Facility
December 15 2022 - 8:30AM
EMCORE Corporation (Nasdaq: EMKR), a leading provider of advanced
mixed-signal products that serve the aerospace & defense,
communications, and sensing markets, announced today that pursuant
to a Purchase and Sale Agreement entered into on November 1, 2022,
it has completed the sale and leaseback of its Tinley Park, IL
facility, generating $10.3 million in net cash proceeds.
About EMCORE EMCORE Corporation is a leading
provider of advanced mixed-signal products that serve the aerospace
& defense, communications, and sensing markets. Our
best-in-class components and systems support a broad array of
applications including navigation and inertial sensing, defense
optoelectronics, broadband communications, optical sensing, and
specialty chips for telecom and data center. We leverage
industry-leading Photonic Integrated Chip (PIC), Quartz MEMS,
Lithium Niobate, and Indium Phosphide chip-level technology to
deliver state-of-the-art component and system-level products across
our end-market applications. EMCORE has vertically-integrated
manufacturing capability at its facilities in Alhambra, CA, Budd
Lake, NJ, Concord, CA, and Tinley Park, IL. Our manufacturing
facilities maintain ISO 9001 quality management certification, and
we are AS9100 aerospace quality certified at our facilities in Budd
Lake and Concord. For further information about EMCORE, please
visit https://www.emcore.com.
Investor Contact:
EMCORE CorporationTom MinichielloChief
Financial Officer(626) 293-3400investor@emcore.com
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