Hebei-based state-owned investor makes US fibre optics investment

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    State-owned Tangshan Caofeidian Investment Corporation is making a US$54.8 million investment in the fibre optics business of Emcore, an American manufacturer…

    State-owned Tangshan Caofeidian Investment Corporation is making a US$54.8 million investment in the fibre optics business of Emcore, an American manufacturer of compound semiconductor-based products for the broadband, fibre optic, satellite and solar power markets.

    The deal is one of the largest outbound investments made by a Chinese state-owned enterprise from Hebei province. The two companies are entering into a share purchase agreement whereby Tangshan Caofeidian will buy a 60% interest in Emcore's fibre optics business. The business will then operate as a joint venture structured as a Hong Kong registered limited company named Emcore Fiber Optics.

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