Lumentum Expands Manufacturing Operations and Advanced R&D in Slovenia

Rhea-AI Summary

Lumentum Holdings Inc. (NASDAQ: LITE) announced an expansion of its manufacturing and R&D operations in Škoflijica, Slovenia, significantly increasing its footprint in the region. The new facility, spanning 137,000 square feet, will focus on developing specialty optical fibers, crucial for applications in industrial lasers, communications, and life sciences. This expansion emphasizes Lumentum's commitment to sustainability, achieving LEED certification. The company aims to align capacity with rising demand and enhance its competitive edge in optical and photonic products.

Positive

• Expansion of manufacturing and R&D operations in Slovenia, doubling capacity.
• Focus on specialty optical fibers critical for growing markets.
• Achieved LEED certification, showcasing commitment to sustainability.

Negative

• None.

SAN JOSE, Calif., Oct. 10, 2022 /PRNewswire/ – Lumentum Holdings Inc. (NASDAQ: LITE) ("Lumentum"), a market-leading designer and manufacturer of innovative optical and photonic products, today announced that it has expanded its manufacturing operations and advanced R&D in Škoflijica, Slovenia for specialty optical fibers that are essential components of many Lumentum products. This expansion more than doubles Lumentum's manufacturing and R&D footprint in Slovenia.

"I am very excited about the manufacturing and advanced R&D expansion in Slovenia," said Alex Schoenfelder, senior vice president and general manager of commercial lasers. "Specialty optical fibers are a key enabling component for industrial fiber lasers and increasingly for other new applications in the industrial, life sciences, and communications markets. Our team in Slovenia has given us unique fibers that enable differentiated performance and cost."

The state-of-the-art facility includes a Center of Excellence for advanced R&D to develop fundamental laser component technology in addition to products. The site includes a 137,000 square foot plot with plans for further future expansion to align capacity with the growing demand for specialty fibers in industrial, communications, and other growing new applications.

"The Lumentum Slovenia site is a shining example of successful deployment of Lumentum's Production System in a greenfield operation, and a resounding affirmation of our zero-defect quality and continuous improvement journey," said Misha Rozenberg, senior vice president, global operations, and chief quality officer. "The site has achieved the Leadership in Energy and Environmental Design (LEED) certification, underscoring Lumentum's commitment to become a more sustainable company."

About Lumentum

Lumentum (NASDAQ: LITE) is a market-leading designer and manufacturer of innovative optical and photonic products enabling optical networking and laser applications worldwide. Lumentum optical components and subsystems are part of virtually every type of telecom, enterprise, and data center network. Lumentum lasers enable advanced manufacturing techniques and diverse applications including next-generation 3D sensing capabilities. Lumentum is headquartered in San Jose, California with R&D, manufacturing, and sales offices worldwide. For more information, visit www.lumentum.com and follow Lumentum on LinkedIn, Twitter, Facebook, Instagram, and YouTube.

Forward-Looking Statements

This communication contains 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. Forward-looking statements generally relate to future events, including impact of the transaction and potential market opportunities. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern the proposed transaction and our expectations, strategy, plans or intentions regarding it. The forward-looking statements contained in this communication are also subject to other risks and uncertainties, including those more fully described in filings with the Securities and Exchange Commission, including reports filed on Form 10-K, 10-Q and 8-K and in other filings made by Lumentum with the SEC from time to time and available at www.sec.gov. These forward-looking statements are based on current expectations, all of which are subject to change. Lumentum undertakes no obligation to update the information contained in this communication or any other forward-looking statement.

Category: Financial

Contact Information:

Investors: Kathy Ta, (408) 750-3853; investor.relations@lumentum.com
Media: Sean Ogarrio, (408) 546-5405; media@lumentum.com

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SOURCE Lumentum

FAQ

What is the significance of Lumentum's expansion in Slovenia?

Lumentum's expansion in Slovenia enhances its manufacturing and R&D capabilities for specialty optical fibers, crucial for various applications.

When did Lumentum announce its operations expansion in Slovenia?

Lumentum announced the expansion of its operations in Slovenia on October 10, 2022.

What is the size of the new facility in Slovenia?

The new facility in Slovenia covers a 137,000 square foot plot.

What certification did Lumentum achieve for its Slovenian facility?

Lumentum's Slovenian facility achieved Leadership in Energy and Environmental Design (LEED) certification.

How will the expansion in Slovenia impact Lumentum's stock performance?

The expansion is expected to positively impact Lumentum's stock performance by increasing production capacity and meeting rising demand.