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Reorganisation

ThreeFive Photonics has filed a "suspension of payments" request in the Dutch courts.

The company works to develop chip-based optoelectronic
integration. The measure is described as being equivalent to a US Chapter 11
bankruptcy filing. The company is to explore alternative financing
strategies for the company that is suffering from the downturn in the
telecoms sector.
"Our existing financing situation does not allow us to sit through the
current telecom winter," says Wouter Deelman, CEO of ThreeFive Photonics.
Among the possible measures is the sale of the company as a "going
business".



Toshiba plans to set up a new company to provide advanced engineering
support for discrete devices, a major pillar of its semiconductor business.
The new company will start operation in October 2003 with 140 engineers.
This could rise to 170 by 2005.



Discrete devices include power transistors, diodes and opto-devices. The new
company will bring together discrete design and application engineers in a
single location. Device engineers will come from Toshiba LSI System Support.
The activities of the new company will range from device design and
development to engineering for integration in customer systems and products.
Separate divisions will be responsible for the major product areas, such as
telecoms and automotive.



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