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Vishay to Spin Off Measurements and Foil Resistor Businesses to Stockholders

Posted on: Sat, 31 Oct 2009 23:28:00 EDT

Symbols: VSH

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Oct 31, 2009 (Close-Up Media via COMTEX) --
VSH | Quote | Chart | News | PowerRating -- Vishay Intertechnology, Inc. announced that it intends to spin-off its measurements and foil resistor businesses into an independent, publicly-traded company to be named Vishay Precision Group.

In an October 27 release, Vishay said that the spin-off is expected to take the form of a tax-free stock dividend to Vishay's stockholders and it is anticipated that holders of Vishay common stock will receive common stock of Vishay Precision Group and holders of Vishay Class B common stock will receive Class B common stock of Vishay Precision Group. Vishay has not yet finalized details of the spin-off.

Vishay's Board, assisted by independent financial and legal advisors, believes that Vishay Precision Group will have enhanced potential as a stand-alone company as it is not a core component of Vishay's overall operations, in terms of products, technology, manufacturing processes, markets and customers.

"The separation of our measurements and foil resistor businesses into a stand-alone, publicly-traded company is a natural evolution for Vishay," said Dr. Felix Zandman, Executive Chairman of the Board and Chief Technical and Business Development Officer, and Dr. Gerald Paul, President and CEO of Vishay. "With this separation, Vishay Precision Group will have more autonomy and flexibility to allocate resources for its future growth, and investors will have better clarity into the financial, market and business dynamics of the measurements and foil resistor businesses, which have not been fully realized as part of the larger Vishay organization."

Vishay Precision Group, a designer, manufacturer and marketer of sensors, ultra precision foil resistors, weighing modules, and weighing systems for a variety of applications, generated approximately $179 million in net revenue during the twelve fiscal months ended September 26. Following the spin-off, Vishay Precision Group said it will encompass Vishay's measurements and foil resistor businesses. Vishay Precision Group employs a strategy of "vertical product" integration, focused on designing, manufacturing, marketing installing and servicing precision measurement products and customized measurement systems.

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For full details on Vishay Intertechnology (VSH) VSH. Vishay Intertechnology (VSH) has Short Term PowerRatings at TradingMarkets. Details on Vishay Intertechnology (VSH) Short Term PowerRatings is available at This Link.

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