Chorum's backers feel that it will need the money to quickly ramp up its production facilities and compete with such giants as JDS Uniphase jdsu, E-Tek Dynamics etek and SDL Inc. sdli as it starts its manufacturing operations.
NeuTex will operate the U.S. plant to which it is moving its manufacturing operations.
The Engelhard Corporation, a maker of pollution-control devices for cars, said yesterday that it would consolidate its manufacturing operations in Georgia to cut costs.
The company will also provide an update on its strategy of shifting more of its manufacturing operations to contract manufacturers, William Price, a spokesman, said.
And in tech, Nortel Networks was stronger, after striking a deal to sell its manufacturing operations to contract manufacturer Flextronics.
That's a conflict that hurt Acer in the 1990s and led it to spin off its manufacturing operations.
The company attributed the drop in profitability to significantly higher operating costs in its manufacturing operations as capacity utilization plunged.
The company said it would move some of its manufacturing operations overseas if tariffs get imposed.
McNeil says that it has been working diligently to ensure that its manufacturing operations meet F.D.A. standards and that it plans to address the agency's most recent concerns.
The company also disclosed that the Food and Drug Administration's Office of Criminal Investigation was investigating its manufacturing operations in Puerto Rico, where it has two large factories.
It then applied the technology to its manufacturing operations, issuing the gear to wire-assembly experts to free them of the need to flip through instruction manuals.
