Vishay Intertechnology Announces Acquisition of Specialty Resistor Company

MALVERN, Pa.--()--Vishay Intertechnology, (NYSE: VSH), one of the world's largest manufacturers of discrete semiconductors and passive electronic components, today announced the acquisition of the resistor businesses of Huntington Electric Inc. comprised of Huntington, Milwaukee, Central and Mills Resistors. The purchase price for these businesses was approximately $19.6 million subject to customary post-closing adjustments.

“We are pleased to welcome Huntington into the Vishay family,” said Marc Zandman, Vishay’s Executive Chairman and Chief Business Development Officer. “The Huntington product and technology portfolio will further enhance our broad resistor portfolio, particularly in the high power and high current ranges, as well as with resistor assemblies for industrial applications.”

“In the Company’s recently announced growth plan,” stated Dr. Gerald Paul, Vishay’s President and Chief Executive Officer, “we indicated that niche acquisitions would supplement intensified internal growth. Our acquisition of Huntington fits well into this strategy, complementing our already broad and strong resistor product business.”

About Vishay

Vishay Intertechnology, Inc., a Fortune 1,000 Company listed on the NYSE (VSH), is one of the world's largest manufacturers of discrete semiconductors (diodes, MOSFETs, and infrared optoelectronics) and passive electronic components (resistors, inductors, and capacitors). These components are used in virtually all types of electronic devices and equipment, in the industrial, computing, automotive, consumer, telecommunications, military, aerospace, power supplies, and medical markets. Vishay’s product innovations, successful acquisition strategy, and "one-stop shop" service have made it a global industry leader. Vishay can be found on the Internet at http://www.vishay.com.

Certain statements contained herein are forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as believe, estimate, will be, will, would, expect, anticipate, plan, project, intend, could, should, or other similar words or expressions often identify forward-looking statements. Such statements are based on current expectations only, and are subject to certain risks, uncertainties and assumptions, many of which are beyond our control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance, or achievements may vary materially from those anticipated, estimated or projected. Among the factors that could cause actual results to materially differ include: general business and economic conditions, particularly the pace and continuation of recovery in the worldwide economy; difficulties in implementing our cost reduction strategies; uncertainty related to the effects of changes in foreign currency exchange rates; competition and technological changes in our industries; difficulties in new product development; difficulties in identifying suitable acquisition candidates, consummating a transaction on terms which we consider acceptable, and integration and performance of acquired businesses; and other factors affecting our operations that are set forth in our filings with the Securities and Exchange Commission, including our annual reports on Form 10-K and our quarterly reports on Form 10-Q. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts

Vishay Intertechnology, Inc.
Peter G. Henrici
Senior Vice President, Corporate Communications
+1-610-644-1300

Contacts

Vishay Intertechnology, Inc.
Peter G. Henrici
Senior Vice President, Corporate Communications
+1-610-644-1300