II-VI to take majority stake in Highyag

October 2, 2007--II-VI has executed a definitive stock purchase agreement whereby a wholly owned subsidiary will acquire 74.9% of the equity interests of Highyag Lasertechnologie in exchange for cash. The remaining 25.1% of Highyag will be owned by Dr. Bjoern Wedel, CEO of Highyag, who will remain with Highyag as managing director after the acquisition by II-VI. The transaction is expected to close in II-VI's third quarter of fiscal year 2008. Financial terms of the transaction were not disclosed.

Highyag was founded in 1995 and is based near Berlin, Germany. The company designs and manufactures automated equipment to deliver high-power one-micron laser light for cutting, drilling, and welding in automotive, semiconductor, and other materials processing applications. Highyag produces tools for laser materials processing, including modular laser processing heads for fiber lasers, YAG lasers, and other one-micron laser systems. The company also manufactures beam delivery systems, including fiberoptic cables and modular beam systems. Highyag had revenues for the year ended December 31, 2006, of approximately $6.2 million.

As a result of this acquisition, II-VI will expand its product offerings of laser optics and components. The products of Highyag will complement the products of II-VI's Infrared Optics and Near-Infrared Optics businesses.

For more information, visit www.ii-vi.com.

Get All the Industrial Laser Solutions News Delivered to Your Inbox

Subscribe to Industrial Laser Solutions Magazine or email newsletter today at no cost and receive the latest news and information.

 Subscribe Now
ILS Blogs
David Belforte
David Beleforte

Let's grow LME

Mon Apr 22 08:51:00 CDT 2013

Looked at manufacturing lately?

Wed Mar 20 09:57:00 CDT 2013

Industrial laser market meets forecast

Fri Mar 08 10:59:00 CST 2013

Photonics West features ultra-fast and fiber lasers

Mon Feb 18 13:31:00 CST 2013

Follow us at Join us on

Twitter - Industrial Laser Solutions

See Article Archive

View Industrial Laser Solutions past articles.

  •  
  •  
  •  
Copyright © 2007-2016. PennWell Corporation, Tulsa, OK. All Rights Reserved.PRIVACY POLICY | TERMS AND CONDITIONS