Vishay Intertechnology plans to buy SI Technologies
Malvern, PA—Vishay Intertechnology Inc. reports that it's planning to purchase SI Technologies Inc. for approximately $17.65 million in cash.
Malvern, PA— Vishay Intertechnology Inc. reports that it's planning to purchase SI Technologies Inc. for approximately $17.65 million in cash. For the fiscal year ending July 31, 2003, SI reported sales of more than $33 million.
'As we've consolidated our past acquisitions of manufacturers in the load cell business, we intend to add SI with the established brand name `Revere' to our portfolio,' says Dr. Felix Zandman, Vishay's chairman and CEO. 'While broadening our product offering we anticipate substantial synergies.'
The transaction is subject to satisfactory completion of due diligence by Vishay; execution of a definitive purchase agreement approved by SI and Vishay's boards of directors; approval by SI's shareholders; and other customary conditions.
Control Engineering Daily News Desk
Jim Montague, news editor
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