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Former Nortel Networks Executive Joins Covega Corporation's Board of Directors

Posted on: Thursday, 15 March 2007, 09:00 CDT

Covega Corporation, a leading provider of state-of-the-art, opto-electronic components and subsystems, announced today that Dr. Michael G. Scott joined the Covega Corporation board of directors.

Dr. Scott brings over two decades of optical communications and semiconductor experience to Covega. As the Vice President Technology, Optical Components for Nortel Networks, between 1996 and 2002, Dr. Scott pioneered the development of new and disruptive technologies and products, thus helping to create the foundation for Nortel's global leadership in optical networks markets. During his tenure with Nortel Networks, and later, as the Chief Technology Officer in Bookham, Dr. Scott has successfully executed a number of M&A activities.

"I'm thrilled to welcome Mike to the Covega board," said Covega CEO Joe Dixon. "His profound understanding of the optical components industry and deep experience in leading telecom system integrators and fiber-optics government agencies will be invaluable as we execute our mission to build an industry leader in the optical components and module business."

"I'm delighted to join the dynamic board of this outstanding company," said Mike Scott. "Covega is focused on bringing to market best of class innovative products and services enabling value-added solutions for optical telecom networks, medical, instrumentation and defense applications."

Dr. Scott is the Chair of the Canadian Photonics Consortium, Visiting Professor and Strategic Adviser for the Centre for Research in Photonics and Adjunct Professor, School of Management, University of Ottawa. He also serves as a board member and adviser to several optical companies and to both the UK and Canadian governments.

About Covega Corporation

Covega Corporation has established world-class proprietary technologies in InP and LiNbO3 to produce high performance optical devices and modules at a low cost with a very small footprint. Today, Covega is a leading provider of state-of-the-art opto-electronic components and subsystems with a wide range of products and services to meet the needs of its diverse customer base. Covega's differentiator is in its superior product performance based on its proprietary intellectual properties in InP and LiNbO3 technologies. With early focus on the telecom and datacom industries, Covega now generates over one-third of its revenue from serving the defense, medical, industrial, sensing, test & measurement and instrumentation industries. For more information, please visit www.covega.com.

This press release contains certain forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties. These statements are based on information available to Covega as of the date hereof; and actual results could differ materially from those stated or implied, due to risks and uncertainties. Such risks and uncertainties include, but are not limited to, the risk that we will not realize the anticipated benefits of this acquisition; and the risks associated with the acquisition, including the ability to successfully integrate this technology, the employees and operations, the diversion of management's attention, the ability to retain key employees, slower than anticipated growth of the market for optical networks and the impact of competitive products and technological advances. Forward-looking statements include statements regarding Covega's expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipated,""believed,""could,""estimate,""expect,""intend,""may,""should,""will," and "would" or similar words. Covega assumes no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.

Source: Business Wire

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