Vishay completes acquisition of power control business from International Rectifier
Vishay Intertechnology has announced that it completed the acquisition of the Power Control Systems business (selected discrete semiconductor and module product lines) from International Rectifier.
The acquisition includes a wafer fab in Torino, Italy, as well as facilities in Swansea, UK; Mumbai, India; and Xian, China. At this time, Vishay has no plans for extensive restructuring. Vishay and International Rectifier entered into several Transition Service Agreements for IT, logistics and other functions as well as for the supply of wafers for up to three years. Vishay expects a smooth transition of the acquired product groups into Vishay's existing organization.In summary, Vishay's acquisition of the selected discrete semiconductor and module product lines from International Rectifier has the potential to materially improve Vishay's growth in revenues, return on investment, and profits. It is consistent with Vishay's policy of being accretive to net earnings during the first year after the acquisition.
Dr. Felix Zandman, Chairman of the Board and Chief Technical and Business Development Officer, and Dr. Gerald Paul, President and Chief Executive Officer of Vishay Intertechnology, Inc. consider this as an excellent acquisition based on the potential of earnings. Furthermore, the product extension should bring to Vishay additional synergies in marketing and packaging in modules Vishay and former International Rectifier products, as well as market growth.
