Vishay Intertechnology to Acquire Birkelbach, Manufacturer of Metalized Technical Films
MALVERN, Pa., Nov. 06, 2024 (GLOBE NEWSWIRE) -- Vishay Intertechnology, Inc., (NYSE:VSH), one of the world's largest manufacturers of discrete semiconductors and passive electronic components, announced that it has entered into definitive agreements to acquire Birkelbach Kondensatortechnik GmbH and certain related assets ("Birkelbach") for approximately €17 million ($18.5 million). Based in Erndtebrueck, Germany, Birkelbach is a manufacturer of metalized technical films for capacitor dielectrics. The all-cash transaction is expected to close before December 31, 2024, subject to satisfaction of customary closing conditions.
"This acquisition secures our metalized film material supply in order to meet the accelerating demand for high voltage high power film capacitors used for smart grid infrastructure projects. Birkelbach has been a key supplier to Vishay for many years and will provide us with the capacity to deliver excellent service and product reliability to our industrial grid customers. We intend to vertically integrate Birkelbach into our Capacitor segment, invest in the company's metalizing equipment and ensure uninterrupted supply to their customers," said Joel Smejkal, President and CEO.
"Vishay has a history of making vertical integration acquisitions. In this case acquiring Birkelbach ensures supply of critical material that is needed to capture an attractive growth opportunity for the company," said Marc Zandman, Executive Chairman.
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 Birkelbach, 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; 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 Henrici
Executive Vice President, Corporate Development
+1-610-644-1300
