8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 29, 2020

II-VI INCORPORATED

(Exact name of registrant as specified in its charter)

Commission File Number: 0-16195

Pennsylvania	25-1214948
(State or other jurisdiction of incorporation)	(I.R.S. Employer Identification No.)

375 Saxonburg Boulevard

Saxonburg, Pennsylvania 16056

(Address of principal executive offices, including zip code)

(724) 352-4455

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240 13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, no par value	IIVI	Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 8.01. Other Events.

On June 29, 2020, II-VI Incorporated (the “Company”) announced that it had entered into an agreement with General Electric Company to license technology to manufacture silicon carbide devices and modules for power electronics. A copy of the Company’s press release announcing the agreement is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

Exhibit No.		Description of Document
	99.1	Press release dated June 29, 2020
	104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: June 29, 2020	II-VI Incorporated
	By:	/s/ Mary Jane Raymond
		Mary Jane Raymond
		Chief Financial Officer and Treasurer

EX-99.1

Exhibit 99.1

II-VI Incorporated Licenses Technology for

Silicon Carbide Devices and Modules for Power Electronics

PITTSBURGH, June 29, 2020 (GLOBE NEWSWIRE) – II-VI Incorporated (Nasdaq: IIVI), a leader in compound semiconductors, today announced that it signed an agreement with General Electric (NYSE: GE) to license GE’s technology to manufacture silicon carbide (SiC) devices and modules for power electronics.

The rapid growth in electric vehicles, renewable energy, microgrids, and power supplies for data storage and communications is driving the strong demand for SiC-based power electronics. SiC achieves superior efficiency, higher energy density, and lower system-level cost per watt compared with state-of-the-art silicon-based devices. Power electronics based on SiC have demonstrated their potential to have a highly beneficial impact on the environment via significant reductions in carbon dioxide emissions and energy consumption.

“We believe that SiC-based power electronics materials and components will become increasingly deployed in electrification systems including, for example, in electric vehicles, industrial infrastructure, and large datacenters, and so we continue to invest to position II-VI in strategic points of the evolving supply chains to enable key customers,” said Dr. Vincent D. Mattera, Jr., Chief Executive Officer, II-VI Incorporated. “As such, we intend to remain focused on executing our recently announced plan to scale our capacity of 150 mm SiC materials by 5-10x while scaling volume production of a differentiated 200 mm materials technology to meet the anticipated growing demand over the next five years.”

“We’re excited to enter into this agreement with II-VI, which positions II-VI well to capitalize on the growing market demand for SiC-based electronics,” said Joe Krisciunas, President of GE Aviation Electrical Power Systems. “At the same time, it will broaden GE’s commercial reach beyond the industry sectors we already serve with SiC technology.”

GE and its industrial businesses, led by Aviation, continue to aggressively develop next-generation silicon carbide for new applications. The business offers electrical power products with power levels from kilowatts to megawatts for harsh environments in aerospace, industrial, and military applications.

About II-VI Incorporated

II-VI Incorporated, a global leader in engineered materials and optoelectronic components, is a vertically integrated manufacturing company that develops innovative products for diversified applications in communications, materials processing, aerospace & defense, semiconductor capital equipment, life sciences, consumer electronics, and automotive markets. Headquartered in Saxonburg, Pennsylvania, the Company has research and development, manufacturing, sales, service, and distribution facilities worldwide. The Company produces a wide variety of application-specific photonic and electronic materials and components, and deploys them in various forms, including integrated with advanced software to support our customers. For more information, please visit us at www.ii-vi.com.

CONTACT:	Mark Lourie
	Vice President, Corporate Communications
	corporate.communications@ii-vi.com
	www.ii-vi.com/contact-us

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XML

Document and Entity Information	Jun. 29, 2020
Cover [Abstract]
Entity Registrant Name	II-VI INC
Amendment Flag	false
Entity Central Index Key	0000820318
Document Type	8-K
Document Period End Date	Jun. 29, 2020
Entity File Number	0-16195
Entity Incorporation State Country Code	PA
Entity Tax Identification Number	25-1214948
Entity Address, Address Line One	375 Saxonburg Boulevard
Entity Address, City or Town	Saxonburg
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	16056
City Area Code	(724)
Local Phone Number	352-4455
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Security 12b Title	Common Stock, no par value
Trading Symbol	IIVI
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false