MALVERN, Pa., Nov. 11 2002 -- Vishay Intertechnology, Inc. (NYSE: VSH) announced today that it has agreed to acquire BCcomponents Holdings B.V., a leading manufacturer of passive components with operations in Europe, India and the Far East. The product lines of BCcomponents include linear and non-linear resistors; ceramic, film and aluminum electrolytic capacitors; and switches and trimming potentiometers. BCcomponents had annual sales in 2001 of approximately $320,000,000.
In the transaction, Vishay will deliver warrants to acquire Vishay shares in exchange for the outstanding shares of BCcomponents and will arrange for the satisfaction of the outstanding senior and mezzanine debt of BCcomponents. The transaction is subject to customary regulatory approval, and Vishay will be required to obtain approval of the transaction from its banks. The transaction is expected to close before the end of the calendar year.
Commenting on the acquisition, Dr. Felix Zandman, Chairman and CEO of Vishay, stated: "We are very excited about the opportunities presented by the acquisition of BCcomponents. The acquisition will reinforce Vishay's position as a leading manufacturer of passive components worldwide. For the past five years we have concentrated on strengthening our position in the discrete semiconductor market. This will mark our first major acquisition in the passive area in ten years."
Dr. Zandman added: "In addition to acquiring an extensive portfolio of products, the acquisition will offer meaningful opportunities for synergies and cost savings, complement our MLCC and tantalum capacitor lines and enhance our position in passive components generally. We will inherit several excellent facilities, including facilities in India and China. Increasing our manufacturing presence in these countries will be consistent with Vishay's continuing program of shifting our production to regions with low labor costs."
About Vishay
Vishay, a Fortune 1,000 Company listed on the NYSE, is one of the world's largest manufacturers of discrete semiconductors (diodes, rectifiers, transistors, optoelectronics, and selected ICs) and passive electronic components (resistors, capacitors, inductors, and transducers). The Company's components can be found in products manufactured in a very broad range of industries worldwide. Vishay is headquartered in Malvern, Pennsylvania, and has plants in fourteen countries employing over 20,000 people. Vishay can be found on the Internet at http://www.vishay.com.