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Saturday, Jun 3, 2023

OCP Adds to Board of Directors

Optical Communications Products, Inc. will expand its board of directors with members representing its majority shareholder, the company announced Tuesday. The move will give seven of the 12 seats on the board to The Furukawa Electric Co., Ltd., which has a 58.1 percent ownership interest in the Woodland Hills-based manufacturer of fiber optic components. OCP is in the midst of an attempted buyout by Oplink Communications, which has an agreement to purchase Furukawa’s share of the company and made an offer for the outstanding shares of OCP stock. Furukawa informed OCP that once its additional directors are in place, the board would amend a recently adopted shareholder rights plan in order to complete the sale of its OCP holdings to Oplink.

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