8-KOther Events

COHERENT CORP. 8-K Report (Oct 24, 2001)

Filed October 24, 2001For Securities:COHR

Summary

II-VI Incorporated (now Coherent Corp.) announced a significant strategic move on October 24, 2001, through an 8-K filing. The company reported the acquisition of the Silicon Carbide (SiC) Group from Litton Systems, Inc., an asset purchase completed on October 19, 2001. This acquisition marks a strategic expansion for II-VI into the silicon carbide materials sector, which is crucial for various high-performance applications. The press release, filed as an exhibit, details this acquisition and its potential implications for the company's growth and market position. Investors should note this development as it signifies an investment in a key material technology that underpins advancements in areas such as power electronics, lasers, and defense systems. The acquisition is likely aimed at broadening II-VI's product portfolio and enhancing its capabilities in specialized materials.

Key Highlights

  • 1II-VI Incorporated acquired the Silicon Carbide (SiC) Group from Litton Systems, Inc. via an asset purchase agreement.
  • 2The acquisition was completed on October 19, 2001.
  • 3The company issued a press release on October 24, 2001, to announce the acquisition.
  • 4The press release is included as Exhibit 99 to the Form 8-K filing.
  • 5This acquisition represents a strategic entry or expansion into the silicon carbide materials market.
  • 6Silicon Carbide (SiC) is a critical material for high-performance applications in sectors like power electronics and defense.

Frequently Asked Questions

The main event reported is II-VI Incorporated's acquisition of the Silicon Carbide (SiC) Group from Litton Systems, Inc., which was completed on October 19, 2001.

This acquisition is significant because it expands II-VI Incorporated's capabilities into the high-growth silicon carbide materials market. SiC is a critical material for advanced technologies, including power electronics, lasers, and defense systems, suggesting a strategic move to enhance the company's product portfolio and market presence in specialized materials.

Investors can find more details about the acquisition in the press release issued by II-VI Incorporated on October 24, 2001, which is included as Exhibit 99 to this Form 8-K filing.

The asset purchase agreement for the acquisition was completed on October 19, 2001.