IIVI Corp. announces proposed acquisition of Virgo Optics

Infraredoptics manufacturer IIVI Corp. (Saxonburg, VA) signed a letter of intent to purchase Virgo Optics (Port Richey, FL) from owner Sando¥Chemicals Corp. USA for an undisclosed sum. Virgo makes optics for use in the visible and infrared spectra, employs about 72 people, and has annual sales of about $4 million to $5 million. Jim Martinelli, director of finance and accounting at IIVI, says his company has no intention of moving the manufacturing plant from Port Richey.