SANTA ROSA, Calif., SAN JOSE, Calif. and NEPEAN, Ontario, Jan. 18, 2000
Optical Coating Laboratory, Inc. (OCLI) (Nasdaq: OCLI - news) announced today that the stockholder meeting scheduled for January 25, to approve OCLI's pending merger with JDS Uniphase (Nasdaq: JDSU - news; Toronto: JDU - news) will be held as scheduled and then adjourned until February 4, 2000 to allow stockholders to consider additional information regarding the announced proposed merger of JDS Uniphase and E-TEK Dynamics (E-TEK) (Nasdaq: ETEK - news).
On January 19, 2000 OCLI stockholders of record on December 15, 1999 will be sent a copy of JDS Uniphase's Form 8-K filed on January 18, 2000 with the Securities and Exchange Commission which includes pro-forma financial information regarding the proposed merger of JDS Uniphase and E-TEK Dynamics.
The proposed transaction between JDS Uniphase and E-TEK does not affect the previously announced clearance of the proposed merger between JDS Uniphase and OCLI under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Also, no additional filings with the SEC are required prior to completion of the merger between JDS Uniphase and OCLI.
Charles J. Abbe, OCLI CEO, commented, ``We are delighted by the proposed merger between JDS Uniphase and E-TEK because it rapidly facilitates a further effective expansion in industry capacity on behalf of our customers. Effective immediately, we at OCLI will increase filter manufacturing in support of the JDSU - E-TEK manufacturing alliance.''
OCLI is a worldwide leader in the manufacture of optical thin film coatings and components used to manage light. OCLI products control and enhance light to achieve specific effects such as reflection, refraction, absorption, separation, anti-glare and electrical conductivity. End market applications include fiber optic telecommunications, space satellites, computer monitors, flat panel displays, projection display systems, photocopiers, fax machines, scanners and medical and analytical instruments. Through its subsidiary, Flex Products, Inc., OCLI manufactures color shifting pigments for use on high value documents, such as currency, and as a special effects pigments for paint and other consumer products. More information about OCLI is available at http://www.ocli.com/.
JDS Uniphase is a high technology company that designs, develops, manufactures and distributes a comprehensive range of products for the growing fiber optic communications market. These products are deployed by system manufacturers worldwide to develop advanced optical networks for the telecommunications and cable television industries. JDS Uniphase Corporation is traded on the Nasdaq National Market under the symbol JDSU and the exchangeable shares of JDS Uniphase Canada Ltd. are traded on The Toronto Stock Exchange under the symbol JDU. More information on JDS Uniphase is available at http://www.jdsunph.com/.
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These statements may be identified by their use of forward-looking terminology such as ``believes,'' ``expects,'' ``may,'' ``should,'' ``would,'' ``will,'' ``intends,'' ``plans,'' ``estimates,'' ``anticipates'' and similar words. Such statements as ``facilitating expansion in industry capacity'' and ``will increase filter manufacturing'' should also be considered forward-looking. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected. Risks and uncertainties that could cause actual results to differ materially from such forward-looking statements include, but are not limited to, factors discussed from time to time in reports filed by JDS Uniphase Corporation and OCLI with the Securities and Exchange Commission. The forward-looking statements contained in this news release are made as of the date hereof and neither JDS Uniphase Corporation nor OCLI assumes any obligation to update the reasons why actual results could differ materially from those projected in the forward-looking statements.