FITEL Technologies Starts Activities With a Mission to be One of the Top 3 Optoelectronic Products Suppliers Within 24 Months.CLINTON, N.J.--(BUSINESS WIRE)--Nov. 9, 1999-- The Furukawa Electric Co., Ltd. (FEC See forward error correction. FEC - Forward Error Correction ) of Japan, a world leader in fiber optics and optoelectronics technology and products announced the formation of FITEL FITEL First International Telecom Technologies, Inc. (FIT), a wholly owned company headquartered in Clinton, NJ. FITEL Technologies, supported by over 1,000 FEC scientists, engineers and product developers, will concentrate on marketing, regional product development, sales, and manufacturing to aggressively participate in the large and rapidly growing North American market of fiber optics and optoelectronics products. Our expected objective is to emerge as one of the top 3 optoelectronic suppliers within 24 months. Consistent with these expectations, Design and Product Development Centers are being opened in Clinton, NJ and Marlborough, MA in addition to the existing offices located in Peachtree City, GA and Santa Clara, CA. Effective September 15, 1999 the FEC Board of Directors named John V. Pilitsis CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of FITEL Technologies. A highly experienced executive, Mr. Pilitsis was the CEO of MKE-Quantum Components, Inc., Shrewsbury, MA. Prior to that he was the Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Lucent Technologies, Optoelectronics Business and is credited for its "turnaround" and positioning as a world leading supplier of optoelectronic products. While at Lucent, he served as the Chairman of the Board of the Optoelectronics Industry Development Association (OIDA OIDA Optoelectronics Industry Development Association ) in Washington, D.C. FITEL Technologies is targeting to grow faster than the market CAGR CAGR See: Compound Annual Growth Rate by: maintaining its leadership in power pump lasers; providing integrated custom solutions in passive devices for DWDM (Dense WDM) The term given to wavelength division multiplexing (WDM) when significantly more channels were being added. Since WDM is increasingly more "dense" all the time, both terms are used synonymously. See WDM. DWDM - wavelength division multiplexing optical networking systems and optical amplifiers; emphasizing a product roadmap based on tuneability and MEMS (MicroElectroMechanical Systems) Tiny mechanical devices that are built onto semiconductor chips and are measured in micrometers. In the research labs since the 1980s, MEMS devices began to materialize as commercial products in the mid-1990s. technology. "Although FITEL Technologies incorporates all the existing FEC North America Optoelectronics resources, it is not merely a name change. It is a recognition by FEC to serve its North American customers better than any other of our excellent optoelectronics products competitors," said Junnosuke Furukawa, President of FEC. "FITEL Technologies will continue the FEC tradition in North America by putting the "Customer First" while harnessing FEC's manufacturing automation excellence to provide high volume/low cost manufacturing superiority, enabling the balance of outstanding product performance and price for the benefit of our Customers," said John Pilitsis, CEO FITEL Technologies. For Questions or comments regarding this information, please contact John Pilitsis, CEO at 908-334-8932. |
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