Coherent announced the sale of its manufacturing facility in Newton Aycliffe, County Durham, UK. The sale is part of the company’s ongoing efforts to streamline operations and optimize its global footprint. “Divesting the Newton Aycliffe plant is part of our effort to optimize our portfolio and streamline our operations, which allows us to focus our investment and capital on the areas of greatest long-term growth and profitability for the company,” said Jim Anderson, CEO. The 310,000 square feet plant, located in Aycliffe Business Park, was acquired by the former II VI Incorporated in 2017. Macquarie Semiconductor and Technology, a unit within Macquarie Group’s Commodities and Global Markets division, served as transaction consultant to Coherent; Taylor Wessing served as legal advisors to Coherent.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on COHR:
- Coherent expands silicon carbide epitaxial wafer production
- Coherent announces general availability of 100G ZR QSFP28 DCO transceiver
- Coherent to demonstrate broad portfolio of products at ECOC 2024
- Coherent to demonstrate 1.6T-DR8, 800G-DR4 transceivers at ECOC 2024
- Ciena upgraded to Buy from Sell at Citi