Vishay Intertechnology, Inc. (NYSE: VSH), one of the world's largest manufacturers of discrete semiconductors and passive electronic components, today announced the acquisition of Holy Stone Polytech Co., Ltd. (“Holy Stone Polytech”), a Japanese manufacturer of tantalum capacitors, from Holy Stone Enterprise Co. Ltd. The purchase price was approximately $21 million subject to customary post-closing adjustments.
“We are pleased to welcome Holy Stone Polytech into the Vishay family,” said Marc Zandman, Vishay’s Executive Chairman and Chief Business Development Officer. “Holy Stone Polytech represents another acquisition of a smaller business that we use to further strengthen and enhance one of our Divisions.”
“In the Company’s announced Growth Plan,” stated Dr. Gerald Paul, Vishay’s President and Chief Executive Officer, “we indicated that niche acquisitions would supplement intensified internal growth. Our acquisition of Holy Stone Polytech fits well into our strategy by enlarging our technological capabilities in tantalum capacitors and by strengthening the Company’s position for these capacitors, especially in Japan.”
About VishayVishay Intertechnology, Inc., a Fortune 1000 Company listed on the NYSE (VSH), is one of the world's largest manufacturers of discrete semiconductors (diodes, MOSFETs, and infrared optoelectronics) and passive electronic components (resistors, inductors, and capacitors). These components are used in virtually all types of electronic devices and equipment, in the industrial, computing, automotive, consumer, telecommunications, military, aerospace, power supplies, and medical markets. Vishay’s product innovations, successful acquisition strategy, and "one-stop shop" service have made it a global industry leader. Vishay can be found on the Internet at http://www.vishay.com. Certain statements contained herein are forward-looking statements within the safe harbor provisions of the 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, particularly the pace and continuation of recovery in the worldwide economy; difficulties in implementing our cost reduction strategies; 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; 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.