OMM to close Friday

March 4, 2003 — OMM Inc. will close Friday, laying off its 85 employees and assigning its assets to company creditors, according to a news release.

The San Diego-based maker of MEMS-based photonic switching subsystems said it has shipped products to more 60 telecom equipment makers but the industry’s downturn has prevented it from reaching the sales volumes it needed. The company also has been unable to raise enough money to ride out the telecom drought, the release said.

OMM, originally known as Optical Micro-Machines, was formed in 1997.

POST A COMMENT

Easily post a comment below using your Linkedin, Twitter, Google or Facebook account. Comments won't automatically be posted to your social media accounts unless you select to share.