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Primary Location Saxonburg, Pennsylvania, United States

Financial Status NASDAQ: COHR

Coherent Corp. is a global leader in materials, networking, and lasers for the industrial, communications, electronics, and instrumentation markets. The company is headquartered in Saxonburg, Pennsylvania. It was founded in 1971 to manufacture high-quality materials and optics for industrial lasers. Today, the company operates in more than 20 countries around the world. Coherent is focused on delivering innovations that fuel market megatrends while pursuing our mission of enabling the world to be safer, healthier, closer, and more efficient. Coherent empowers market innovators to define the future through breakthrough technologies, from materials to systems.

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Japan's Denso, Mitsubishi Electric to invest $1 bln in Coherent's silicon carbide unit

đź“… Date:

đź”– Topics: Funding Event

🏢 Organizations: Denso, Mitsubishi Electric, Coherent

Coherent (COHR.N), a major U.S. supplier of materials used to make chips for the automotive industry, said on Tuesday Japan’s Denso (6902.T) and Mitsubishi Electric (6503.T) will invest $1 billion in the company’s silicon carbide business. Denso and Mitsubishi Electric will invest $500 million each in exchange for a 12.5% non-controlling ownership interest in Coherent’s unit, as per the agreement. Coherent, which makes lasers and switches for circuits, has a market value of $4.69 billion and carries $4.4 billion in total debt as of fiscal 2023, according to LSEG data.

Read more at Reuters