Vishay Agrees to Acquire Celtron Technologies
Monday September 30, 8:31 am ET
biz.yahoo.com
MALVERN, Pa., Sept. 30 /PRNewswire-FirstCall/ -- Vishay Intertechnology, Inc. (NYSE: VSH) announced today that it has agreed to acquire Celtron Technologies for approximately $13,500,000. Celtron is engaged in the production and sale of load cells used in digital scales for the weighing industry, with manufacturing facilities and offices in Taiwan, the Peoples Republic of China, and California. In calendar 2001, the acquired business had sales of approximately $8,600,000. The transaction is expected to close in mid-October 2002.
Dr. Zandman, Chairman and Chief Executive Officer of Vishay stated, "This acquisition is yet another step in our strategy to vertically broaden the product offerings of the Vishay Measurements Group. Celtron complements the acquisitions that were announced earlier this year in the Vishay Transducers division, first with Sensortronics in January, then Tedea-Huntleigh in June, and most recently with BLH and Nobel in August. We are now in a position, with the combined resources of the Vishay Micro-Measurements and Vishay Transducers divisions, to offer our customers solutions that involve the strain gage sensor, the load cell weighing element, and the display and control instrumentation - all manufactured within the Group. We intend to continue to strengthen this business through further acquisitions and organic growth." |
