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Lucent sells China unit to Jabil

Lucent Technologies has entered into a deal with Jabil Circuit to sell the electronics maker its manufacturing business in China and to buy Jabil's optical equipment, the companies said Thursday. Lucent made the announcement with its joint venture partners in China, Lucent Technologies of Shanghai. LTOS, which includes major local companies such as Shanghai Post & Telecommunication Equipment, was formed in 1989 to make optical transmission equipment for use in China. Jabil will take on the organization's 500 employees, inventory and 325,000-square-foot manufacturing facility. Lucent said the move is part of a strategy to enhance relationships with major contract manufacturers and to focus on making parts for large service providers. The deal is expected to close this summer.

Lucent Technologies has entered into a deal with Jabil Circuit to sell the electronics maker its manufacturing business in China and to buy Jabil's optical equipment, the companies said Thursday.

Lucent made the announcement with its joint venture partners in China, Lucent Technologies of Shanghai. LTOS, which includes major local companies such as Shanghai Post & Telecommunication Equipment, was formed in 1989 to make optical transmission equipment for use in China. Jabil will take on the organization's 500 employees, inventory and 325,000-square-foot manufacturing facility. Lucent said the move is part of a strategy to enhance relationships with major contract manufacturers and to focus on making parts for large service providers. The deal is expected to close this summer.