MALVERN, Pa.--(BUSINESS WIRE)--
Vishay Intertechnology, Inc. (NYSE:VSH), one of the world's largest
manufacturers of discrete semiconductors and passive electronic
components, today announced the acquisition of Holy Stone Polytech Co.,
Ltd. ("Holy Stone Polytech"), a Japanese manufacturer of tantalum
capacitors, from Holy Stone Enterprise Co. Ltd. The purchase price was
approximately $21 million subject to customary post-closing adjustments.
"We are pleased to welcome Holy Stone Polytech into the Vishay family,"
said Marc Zandman, Vishay's Executive Chairman and Chief Business
Development Officer. "Holy Stone Polytech represents another acquisition
of a smaller business that we use to further strengthen and enhance one
of our Divisions."
"In the Company's 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 Holy Stone Polytech fits well into our strategy by
enlarging our technological capabilities in tantalum capacitors and by
strengthening the Company's position for these capacitors, especially in
Vishay Intertechnology, Inc., a Fortune 1000 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
Source: Vishay Intertechnology, Inc.