Fortune 500 company coming to Albuquerque
Posted at: 10/04/2012 6:05 PM
By: KOB.com staff
A Fortune 500 company is coming to Albuquerque and buying part of Emcore.
Sumitomo Electric held its ribbon cutting ceremony Thursday as the company was welcomed to New Mexico.
The huge Japanese company is buying a division of Emcore. 50 Emcore workers will work for Sumitomo, but the jobs will stay here.
The Japanese company designs and makes a wide range of products from optical fibers to electronic devices and automotive parts.
In fact, 40 percent of its sales are to automotive companies.
The Japanese corporation said buying a slice of Emcore and coming to Albuquerque was an easy decision.