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Lucent Technologies

May 04, 2000|Bloomberg News

Lucent Technologies Inc., the largest maker of phone equipment, said it's selling a unit that provides equipment to supply power to communications networks, so it can focus on fiber optics and data networking, its main businesses.

Lucent expects to begin discussions soon with potential buyers about the Power Systems business, which makes power supply, conversion and backup equipment. The Mesquite, Texas-based company employs 4,700 workers at 30 sites worldwide, with most split between plants in the Dallas suburb of Mesquite and Matamoros, Mexico.

It accounted for about $1.2 billion of Lucent's $38.3 billion in sales last year. The company said it expects to find a buyer within six months. It didn't say how much it expects to get for the unit. Shares of Murray Hill, N.J.-based Lucent fell $1.56 to close at $60 on the New York Stock Exchange.

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