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|ZYGO’S TELECOM DIVISION SIGNS DEVELOPMENT & SUPPLY AGREEMENT WITH LIGHTCHIP, INC.|
HOLLISTON, MASSACHUSETTS July 24, 2000……(NASDAQ:ZIGO) ZYGO TeraOptix, a leading enabler for the All-Optical-Network, announced an agreement to develop and manufacture components and sub-assemblies for LightChip Inc. Based in Salem, New Hampshire, LightChip is developing and commercializing optical networking systems, for deployment initially in Metropolitan Area Networks.
Under the general terms of the agreement, ZYGO TeraOptix will develop, produce, and package discrete components and subassemblies for LightChip's proprietary DWDM products. Over the course of the next three years, the resulting business could be worth up to $25M to ZYGO TeraOptix, with production commencing in Calendar Q3 2000.
"The prototype sub-assemblies from ZYGO TeraOptix to date have surpassed our delivery and functional performance expectations", commented Ian Turner, Senior Vice-President of Engineering at LightChip, Inc. "We are extremely delighted with this association with ZYGO TeraOptix, and expect to leverage their collective engineering and high-volume manufacturing experience to scale rapidly."
"We are excited to be a part of the LightChip story, and look forward to helping them deliver the best price-performance solution for Metro markets and to penetrate new ones including campus and corporate WDMs," added John Berg, President of ZYGO TeraOptix."
Lightchip, Inc. is located in Salem, New Hampshire. For more information contact email@example.com or see additional information on the internet at www.lightchip.com .
Located in Holliston, Massachusetts, ZYGO TeraOptix is a wholly owned subsidiary of Zygo Corporation, chartered to develop and commercialize components, subsystems and equipment for the optical telecommunications and information technology industries. Headquartered in Middlefield, Connecticut, Zygo Corporation develops, manufactures, and markets high performance measurement and yield improvement instruments and custom automation systems used in high technology industries. ZYGO is traded on the Nasdaq National Market under the symbol ZIGO. Additional information on the Company is available on the Internet at www.zygo.com and at www.zygoteraoptix.com .
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect the Company's (ZYGO's) current judgment on certain issues. Because such statements apply to future events, they are subject to risks and uncertainties that could cause the actual results to differ materially. Important factors, which could cause actual results to differ materially are described in the Company's reports on Form 10-K and 10-Q on file with the Securities and Exchange Commission.