II-VI Unveils European Distribution Joint Venture

PITTSBURGH, April 24 -- II-VI Inc. has reached an agreement with L.O.T.-Oriel Laser Optik Technologie Holding GmbH and L.O.T.-Oriel Laser Optik Technologie GmbH & Co. KG of Darmstadt, Germany, to establish a European joint venture to distribute II-VI Inc.'s and Laser Power Corp.'s products in Germany. II-VI will own a controlling interest in this joint venture, called II-VI/L.O.T. AG.

Definitive agreements are pending for the joint venture, which is expected to be completed in July. Terms of the transaction were not released. II-VI/L.O.T. will be based in Darmstadt.