Coherent Corp. announced the sale of its manufacturing facility in Newton Aycliffe, County Durham, UK, as part of its ongoing efforts to streamline operations. The plant, spanning 310,000 square feet, was acquired by the former II-VI Incorporated in 2017.
Jim Anderson, CEO, stated that divesting the Newton Aycliffe plant is part of optimizing the company's portfolio and streamlining operations. This allows Coherent to focus investment and capital on areas with the greatest long-term growth and profitability.
The strategic move reflects the company's commitment to enhancing its core business segments. Macquarie Semiconductor and Technology served as transaction consultant, with Taylor Wessing as legal advisors for Coherent in this transaction.
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