ANOTHER local company has been hit by the global downturn in the telecommunications sector.

Just a year after its £15 million purpose-built facility was officially opened by The Princess Royal, Optical Micro Devices has called in administrators and is seeking a major investor.

OMD, which employs about 40 specialist technicians, was formed in September 1999 as a start-up business manufacturing specialist products for the optical communications industry.

The company moved to its present corporate headquarters in Wootton Bassett at the beginning of last year.

Richard Hill and Peter Rilett of KPMG in Bristol have been appointed joint administrators.

Mr Hill, corporate recovery partner at KPMG, said: "Unfortunately, the company has suffered from the global slow-down in the telecommuni-cations industry.

"This has meant that sales have been slower than expec-ted, resulting in a higher than anticipated cash burn-rate.

"The business uses state-of-the-art semi-conductor tech-nology and has excellent pros-pects for an investor who is prepared to take a long term view.

"It is hoped that a buyer can be found for the business and assets in the next four to six weeks and we are currently working to identify potential purchasers for the business."

Located on the Interface Business Park in Wootton Bassett, OMD provides optical components and is dedicated to producing miniature optical electronic components such as planar lightwave circuits and optical microbenches for use in telecommunications networks.

When the ultra modern facility opened last year it had the first eight-inch wafer fabrication foundry dedicated to the opto-electronics sub-component industry.

At that time opto-electronics was the fastest growing sector of the micro-electronics industry and OMD proceeded with developing the plant after securing secured a £14.8 million injection of venture capital.

On site is a specially con-structed clean room, essential for manufacture of the company's eight inch wafer fabri-cation, and designed for high volume manufacture.

The company was co-founded by Kevin Ford, previously director of operations at Advanced Micro Devices in California.

No-one at OMD was available for comment when the Evening Advertiser rang the company.