Business Services Industry
Vishay to Sell Automotive Modules and Subsystems Business Acquired from International Rectifier
Business Wire, July 25, 2007
MALVERN, Pa. -- Vishay Intertechnology, Inc. (NYSE:VSH) today announced Vishay's intent to sell the Automotive Modules and Subsystems Business Unit (ASBU) recently acquired from International Rectifier as part of the Power Control Systems (PCS) business. Dr. Felix Zandman, Executive Chairman of the Board and Chief Business Development Officer and Dr. Gerald Paul, President and Chief Executive Officer of Vishay Intertechnology, Inc., stated that after considerable evaluation both before and after the closing of the acquisition it was concluded that the ASBU business would not satisfactorily complement Vishay's operations.
Vishay had previously estimated that the entire PCS business in 2008 would have annual sales of $320 million. Without ASBU, annual sales for the remaining PCS business are now estimated to be $240 million. The reduction of the annual earnings estimates due this divestiture is projected to be $4 to $6 million.
An active program to locate a buyer has been initiated.
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, rectifiers, transistors, and optoelectronics and selected ICs) and passive electronic components (resistors, capacitors, inductors, sensors, and transducers). These components are used in virtually all types of electronic devices and equipment, in the industrial, computing, automotive, consumer, telecommunications, military, aerospace, and medical markets. Its product innovations, successful acquisition strategy, and ability to provide "one-stop shop" service have made Vishay a global industry leader. Vishay can be found on the Internet at http://www.vishay.com.
Statements in this release concerning the disposition of the Automotive Modules and Subsystems Business Unit are forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations only, and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, the anticipated benefits may not materialize or may vary materially from those that are currently expected. In particular, there is no assurance of the timeframe for the sale ASBU or that the sale will be consummated at all. Also, the revenues for the PCS business, both before and after the divestiture, and the reduction in annual earnings following divestiture will depend, among other things, upon general business and economic conditions, particularly in the markets served by the PCS business; the integration of the PCS business with the other businesses of Vishay; and other factors affecting the Vishay's operations generally. These general factors are discussed in Vishay's Annual Report on Form 10-K for the year ended December 31, 2006 filed with the Securities and Exchange Commission. Vishay does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- Design a commission plan that drives sales - Sales Commissions



