II-VI Incorporated Determines Effects of Recent U.S. Commerce Department Rule

May 18, 2020   I     PDF

II-VI Incorporated (Nasdaq:IIVI), a global leader in engineered materials and optoelectronic components, today shared the results of its analysis of the U.S. Commerce Department’s recent interim rule that applies to Huawei and its affiliates.

The Commerce Department placed Huawei and its affiliates on the Entity List effective May 16, 2019, restricting trade from the United States. On May 15, 2020, it issued a further rule amending General Prohibition Three by imposing a new control over certain foreign-produced items, when there is knowledge that such items are destined to a designated entity on the Entity List.

The company believes that the Commerce Department’s new rule will have no to minimal impact on the company’s sales or prospects. The company will continue to monitor the rule and Commerce Department guidance to assess any changes that may be required, and to remain fully compliant.