Vishay Intertechnology spinoff to result in Vishay Precision Group

By Lisa Kerner

Charlotte, N.C., Oct. 27 - Vishay Intertechnology, Inc. announced plans to spin off its measurements and foil-resistor businesses into an independent, publicly traded company to be named Vishay Precision Group, Inc.

While details of the spinoff have not been finalized, Vishay said it is expected to take the form of a tax-free stock dividend to Vishay's stockholders.

Holders of Vishay common stock will receive common stock of Vishay Precision Group, and holders of Vishay class B common stock will receive class B common stock of Vishay Precision Group, according to a company news release.

The transaction is expected to close in the second quarter of 2010, subject to approvals and other customary closing conditions.

"With this separation, Vishay Precision Group will have more autonomy and flexibility to allocate resources for its future growth, and investors will have better clarity into the financial, market and business dynamics of the measurements and foil-resistor businesses, which have not been fully realized as part of the larger Vishay organization," Vishay president and chief executive officer Dr. Gerald Paul said in the release.

Vishay executive vice president and chief operating officer Ziv Shoshani is expected to become president and CEO of Vishay Precision Group.

Malvern, Pa.-based Vishay is a manufacturer of discrete semiconductors and passive electronic components.

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