SAN JOSE, Calif. -- A former employee of Emcore Corp. shot and killed five individuals and injured four others at Emcore, an Albuquerque, N.M.-based solar and fiber optics manufacturer, according to reports.
The former employee, a man who was not identified, entered Emcore on Monday morning and started to shoot, according to reports. Then, the man killed himself, according to reports.
It has been a bad period for Emcore. The company recently signed a purchase
agreement to create a joint venture with Tangshan Caofeidian Investment
Corp. (TCIC), a Chinese investment company located in Caofeidian Industry
Zone, Tangshan City, Hebei Province of China.
The agreement provides for TCIC to purchase a 60 percent interest in
Emcore's Fiber Optics business, excluding its satellite communications and
specialty photonics fiber optics product lines, which will be operated as a
joint venture once the transaction is closed. The new joint venture entity will
be named Emcore Fiber Optics, Limited (EFO), and registered in Hong Kong. The
agreement provides for TCIC to pay Emcore approximately $27.8 million in cash
and provide an additional funding of $27 million to EFO after the closing.
Late last month, Emcore and TCIC withdrew
their joint filing with the Committee on Foreign Investment in the United States
(CFIUS). The withdrawal was made jointly in response to an indication from CFIUS
that it has certain regulatory concerns about the transaction as it is currently