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Avanex Corp. (AVNX) Signs Supply Agreement Extension with Alcatel-Lucent

Avanex Corporation (AVNX), a pioneer of intelligent photonics, announced that Alcatel-Lucent has extended their supply agreement for an additional three years. The Pirelli Group has also purchased the 12.4 percent stake in Avanex that was previously owned by Alcatel-Lucent. This unparalleled investment by Pirelli is evidence of Avanex’s overall corporate strength that seeks to commercializes next generation photonics.

Jo Major, CEO of Avanex, commented “We are pleased to have Pirelli enter the share capital of our company. Pirelli has a demonstrated history of advanced technology development, with many capabilities that are complementary to Avanex, and we look forward to future collaborations with both Pirelli and Alcatel-Lucent for innovative photonic solutions that deliver value to telecommunication networks.”

“The investment in Avanex and the Pirelli supply agreement with Alcatel-Lucent,” stated Claudio De Conto, General Manager, Operations, of Pirelli, “strengthen the Group’s presence in the core business of second generation photonics after the start-up, in 2001, of the Pirelli Labs advanced research center and the incorporation in early 2005 of Pirelli Broadband Solutions, built on a long history of experience in the field.”

“Furthermore, we are pleased to announce our renewed supply agreement with Alcatel-Lucent,” asserted Jo Major. “We view the long-standing partnership with Alcatel-Lucent as both a testament to our past efforts to support them and our team’s demonstrated ability to bring new technologies and products to market.”

“We are glad to continue our relationship with Avanex and Pirelli,” stated Romano Valussi, President of Alcatel-Lucent’s Optics activities. “We continue to make strategic moves that enable our customers to successfully address new opportunities.”

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