Afonics Acquires Avrio

OXFORD, U.K. -- Afonics Fibreoptics Ltd announces the completion of its 100% acquisition of Avrio Technologies Inc (Los Angeles, CA) and its 100% owned subsidiary company, Avrio Technologies Europe GmbH (Berlin, Germany).

Afonics is a fiber optic component manufacturer experiencing over 100% year on year growth. The acquisition of Avrio technologies re-enforces Afonics North American presence, as well as adding new products such as 10G transponders to Afonics range of active aligned components. Avrio also adds a state of the art high speed electronic design team to Afonics world leading opto-mechanical engineering resource.

Details of the acquisition are being withheld, however post deal Afonics remains with negligible external ownership. The acquisition forms part of Afonics plan to exceed $80m revenue by 2007. Afonics is rapidly ramping up manufacturing capacity for its continuing growth, as well as planning further strategic acquisitions.

Afonics Fibreoptics Ltd.