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Huntington Electric acquired by Vishay Intertechnology

Posted: Monday, October 3, 2011

InsideINdianaBusiness.com Report

A Pennsylvania company has purchased the resistor business of Huntington-based Huntington Electric Inc. Vishay Intertechnology Inc. says the nearly $20 million deal fits well with the company's recently announced growth plan.

Vishay Intertechnology, one of the world's largest manufacturers of discrete semiconductors and passive electronic components, today announced the acquisition of the resistor businesses of Huntington Electric Inc. comprised of Huntington, Milwaukee, Central and Mills Resistors. The purchase price for these businesses was approximately $19.6 million subject to customary post-closing adjustments.

"We are pleased to welcome Huntington into the Vishay family," said Marc Zandman, Vishay's Executive Chairman and Chief Business Development Officer. "The Huntington product and technology portfolio will further enhance our broad resistor portfolio, particularly in the high power and high current ranges, as well as with resistor assemblies for industrial applications."

"In the Company's recently 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 Huntington fits well into this strategy, complementing our already broad and strong resistor product business."

About Vishay

Vishay Intertechnology, Inc., a Fortune 1,000 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.

Source: Vishay Intertechnology, Inc