Vishay Intertechnology To Acquire Substantially All of the Assets of Barry Industries for $21 Million
15 Dezembro 2021 - 6:10PM
Vishay Intertechnology, Inc., (NYSE: VSH), one of the world's
largest manufacturers of discrete semiconductors and passive
electronic components, announced that it has signed a definitive
purchase agreement to acquire substantially all of the assets and
certain liabilities of Barry Industries for $21 million, subject to
working capital and net cash adjustments at closing. The all-cash
transaction is expected to close on December 31, 2021, subject to
the satisfaction of customary closing
conditions.
Based in Attleboro, MA, privately-held Barry Industries is a
leading globally recognized and vertically integrated manufacturer
of semiconductor packaging and resistive components including
terminations, resistors and attenuators. An ISO9001 certified, ITAR
registered company, Barry Industries is an approved supplier to the
leading manufacturers of military, commercial, aerospace, medical
and fiber-optic devices.
“As a reliable and consistent generator of cash, Vishay has the
resources to fund acquisitions while continuing to invest in
organic capital expenditure growth projects and allocate capital to
shareholders,” said Marc Zandman, Executive Chair and Chief
Business Development Officer. “Acquiring Barry Industries is
another step in our strategy to expand our product portfolio and
strengthen our competitive positioning.”
Dr. Gerald Paul, President & Chief Executive Officer,
stated, “Adding Barry Industries expands Vishay’s high frequency
and high power resistor technologies. Barry has proven expertise in
power and thermal management and a very capable team of design
engineers. With this acquisition, we are broadening our
opportunities to address growing communication applications in
telecom infrastructure, military and automotive markets. We look
forward to a seamless integration of Barry Industries with our
Resistors business segment.”
About Vishay
Vishay manufactures one of the world’s largest
portfolios of discrete semiconductors and passive electronic
components that are essential to innovative designs in the
automotive, industrial, computing, consumer, telecommunications,
military, aerospace, and medical markets. Serving customers
worldwide, Vishay is The DNA of tech.™ Vishay
Intertechnology, Inc. is a Fortune 1,000 Company listed on the NYSE
(VSH). More on Vishay at www.Vishay.com.
Statements contained herein that relate to the
Company's planned acquisition of the assets of Barry Industries,
Inc., including statements with respect to future performance,
anticipated areas of growth, and product development, are
forward-looking statements within the safe harbor provisions of
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; manufacturing or supply chain interruptions or
changes in customer demand because of COVID-19 or otherwise; delays
or difficulties in implementing our cost reduction strategies;
delays or difficulties in expanding our manufacturing capacities;
an inability to attract and retain highly qualified personnel;
changes in foreign currency exchange rates; 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; changes in U.S. and foreign
trade regulations and tariffs, and uncertainty regarding the same;
changes in applicable domestic and foreign tax regulations, and
uncertainty regarding the same; changes in applicable accounting
standards 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.
Contact:Vishay Intertechnology, Inc.Peter
HenriciSenior Vice President, Corporate
Communications+1-610-644-1300
Vishay Intertechnology (NYSE:VSH)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Vishay Intertechnology (NYSE:VSH)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024