News

23 June 2009

 

II-VI Inc sells eV Products to Endicott

Just over a week ago, II-VI Inc of Saxonburg, PA, USA (a vertically integrated manufacturer of crystalline compounds including zinc selenide for infrared laser optics, silicon carbide for high-power electronic and microwave applications, and bismuth telluride for thermoelectric coolers) sold its subsidiary eV Products Inc to Endicott Interconnect Technologies Inc (EI) of Endicott, NY, USA.

Endicott supplies electronic interconnect solutions consisting of fabrication and assembly of printed circuit boards, flip-chip and wire-bond semiconductor packaging, and precision equipment manufacturing and integration.

eV Products makes solid-state room-temperature x-ray and gamma-ray radiation detection sensors for industrial, medical, homeland security and laboratory applications. It is claimed to be the only fully integrated cadmium zinc telluride (CZT) manufacturer, transforming raw purified cadmium, zinc and tellurium into CdZnTe radiation detection and imaging systems, including components and subassemblies such as integrated electronics, digital communications and software.

“The sale of eV will allow us to focus our financial resources and devote greater attention to our core businesses,” says II-VI’s president & CEO Francis J. Kramer. II-VI has accounted for eV as a discontinued operation and excluded it from its operating results since the fiscal third-quarter (to end-March 2008) when the firm originally announced its intention to sell eV. “Endicott Interconnect has the operational qualities and strategic fit to maximize the value of eV’s differentiating material and sensor capabilities in the markets serviced by eV,” says Kramer.

“eV is one of the very few manufacturing operations focused on providing high-quality engineered materials and components,” says EI’s president & CEO James J. McNamara Jr. “This critical technology will be integrated into EI’s portfolio to further extend our electronics packaging strategy of delivering highly customized and technology driven solutions to customers in the medical, security and other commercial markets,” he adds. “We can electronically package those sensors just like we can package a semiconductor,” says EI spokeswoman Theresa Taro.

EI says that there are opportunities for synergy in corporate support services such as information technology, finance, human resources, procurement and marketing. However, eV Products received IT, HR and other support from parent company II-VI, so there will be no eV Products job cuts as a result of the synergies, says EI.

The renamed eV Microelectronics business (operating as a division of EI reporting to McNamara) will continue to operate its R&D, manufacturing and sales functions separately from EI in its 3000m2 facility in Saxonburg. Its intellectual property and 65 staff will become part of EI's Microelectronics Division. EI already has about 1500 staff.

See related item:

II-VI seeks buyer for CdZnTe radiation sensor division eV

Search: II-VI Inc CdZnTe

Visit: www.evproducts.com

Visit: www.ii-vi.com