II-VI expands to meet industry growth

Saxonburg, PA—In a move that mirrors the return to health of the laser optics industry, II-VI, Inc. (www.ii-vi.com) will construct a 60,000-square-foot, $15 million building adjacent to its current 176,000-square-foot building here in Butler County. The new three-story building, funded partially with state aid, will house a clean room, as well as engineering, light manufacturing, and executive offices.

The manufacturer of infrared lenses enjoyed a very good year in fiscal 2004 with revenues of $151 million and profits of more than $17 million. The state funding, totaling $1.5 million, will enable the company to move forward more quickly in terms of training new employees, as well as to purchase machinery and equipment and defray some of the cost of the new construction.