Close

Search

Search Menu
Photonics Media Photonics Buyers' Guide Photonics EDU Photonics Spectra BioPhotonics EuroPhotonics Industrial Photonics Photonics Showcase Photonics ProdSpec Photonics Handbook
More News
SPECIAL ANNOUNCEMENT
2016 Photonics Buyers' Guide Clearance! – Use Coupon Code FC16 to save 60%!
share
Email Facebook Twitter Google+ LinkedIn Comments

II-VI to Buy Pacific Rare Specialty

Photonics.com
May 2007
PITTSBURGH, May 17, 2007 -- II-VI Inc., a Saxonburg, Pa.-based maker of crystalline compounds, announced today that one of its subsidiaries will acquire Pacific Rare Specialty Metals & Chemicals Inc., in exchange for cash. Financial terms were not disclosed.

The transaction is expected to close in II-VI's first fiscal quarter, ending Sept. 30. II-VI said it will update its guidance for the fiscal year ending June 30, 2008, when the acquisition is completed, and that it is expected to be immediately accretive.

Philippine-based PRSMC is a producer and refiner of selenium and tellurium metals and chemicals as well as other rare metals and components for electronic, industrial and other applications. It reportedly had revenues of approximately $13.6 million for the year ending on Dec. 31, 2006.

II-VI said it expects the acquisition "to have an immediate positive contribution to revenues and earnings" and that it will enable it to expand and secure its supply of selenium and tellurium products. Selenium is a  raw material used in the production of zinc selenide, the most commonly used substrate for CO2 laser optics manufactured and sold through II-VI's Infrared Optics business segment. Tellurium is a  raw material used to produce bismuth telluride for thermoelectric coolers manufactured and sold by Marlow Industries Inc., part of II-VI's Compound Semiconductor Group business segment. PRSMC will become an operating unit reporting to Jim Martinelli, vice president of II-VI's government and military business.

Francis J. Kramer, president of II-VI, said, "For the past few years, the volatility of the cost and the available supply of selenium for our infrared optics business has been a concern. Although this acquisition does not eliminate the selenium price volatility, it does improve the certainty of supply. The PRSMC tellurium production will also benefit our thermoelectric cooler cost structure and supply chain."

II-VI's products are used in industrial manufacturing, military and aerospace, medical radiology, high- power electronics and telecommunications, and thermoelectronics applications. It produces 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.
 
For more information, visit: www.ii-vi.com


GLOSSARY
photonics
The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...
Comments
Terms & Conditions Privacy Policy About Us Contact Us
back to top

Facebook Twitter Instagram LinkedIn YouTube RSS
©2016 Photonics Media
x We deliver – right to your inbox. Subscribe FREE to our newsletters.