II-VI Incorporated Acquires Majority Interest in HIGHYAG Lasertechnologie GmbH
PITTSBURGH, Jan. 3 / -- II-VI Incorporated (NASDAQ:IIVI) announced today it has completed its acquisition of a 74.9% equity interest in HIGHYAG Lasertechnologie GmbH (HIGHYAG) in exchange for cash as previously announced in a press release dated October 2, 2007. Financial terms of the transaction were not disclosed. As part of the Company's earnings release for its second fiscal quarter ended December 31, 2007 scheduled for January 22, 2008, the Company will update its earnings guidance to include HIGHYAG for the fiscal year ending June 30, 2008.
About II-VI Incorporated
II-VI Incorporated, the worldwide leader in crystal growth technology, is a vertically-integrated manufacturing company that creates and markets products for a diversified customer base including industrial manufacturing, military and aerospace, medical radiology, high-power electronics and telecommunications, and thermoelectronics applications. Headquartered in Saxonburg, Pennsylvania, with manufacturing, sales, and distribution facilities worldwide, the Company produces numerous crystalline compounds including zinc selenide for infrared laser optics, cadmium zinc telluride for gamma radiation detectors, silicon carbide for high-power electronic and microwave applications, and bismuth telluride for thermoelectric coolers.
The Company's infrared optics business, II-VI Infrared, manufactures optical and opto-electronic components for industrial laser and thermal imaging systems. The Company's near-infrared optics business, VLOC, manufactures near-infrared and visible light products for industrial, scientific, military and medical instruments and laser gain materials and products for solid-state YAG and YLF lasers. In the Company's military and materials business, the military infrared optics business, Exotic Electro- Optics (EEO), manufactures infrared products for military applications and the materials business, Pacific Rare Specialty Metals & Chemicals, is a producer and refiner of selenium and tellurium metals and chemicals. In the Company's Compound Semiconductor Group, the eV PRODUCTS division manufactures and markets solid-state x-ray and gamma-ray sensor products and materials for use in medical, industrial, environmental, scientific and homeland security applications; the Wide Bandgap Materials (WBG) group manufactures and markets single crystal silicon carbide substrates for use in the solid-state lighting, wireless infrastructure, RF electronics and power switching industries; the Marlow Industries, Inc. subsidiary designs and manufactures thermoelectric cooling and power generation solutions for use in defense, space, photonics, telecommunications, medical, consumer and industrial markets; and, the Advanced Materials Development Center (AMDC) provides expertise in materials development, process development, and manufacturing scale up.
FCMN Contact: ccreaturo@ii-vi.com
Source: II-VI Incorporated
Web site: http://www.ii-vi.com/
