Vishay still looking for acquisitions -

Vishay still looking for acquisitions

ELECTRONICA, Munich — Despite the current downturn, Vishay the manufacturers of discrete semiconductors and passive electronic components, is planning to pursue a continuous acquisition strategy.

“We will continue our acquisitions and drive organic growth by focused R&D activities” said Dr. Felix Zandman, executive chairman of the board and chief technical and business development officer of Vishay Intertechnology, Inc.

Vishay (Malvern, PA) is also continuing to invest in infrastructure with capital investment in the current financial year is some $150 to $160 million. It has also seen requests for customized development and/or design rise by a factor of seven from 2004 to 2008, resulting in revenue of $800 million.

The company has made a number acquisitions in the past 20 years, around a dozen of which it describes as strategic, and this has fueled a 20 percent compound annual gowth rate from 1987 to 2007.

Commenting on the current business climate, Dr. Gerald Paul, CEO of Vishay, said “Overall, the last quarter for Vishay and the entire industry has been difficult. Sales and profits have remained lower than expected. The low order intake in October points to a further economic slowdown.

“The automotive industry in Europe has also suffered from the economic slowdown, as have mobile telephones, computers and consumer goods, which remain below expectations. Conversely, industrial automation is relatively stable, as is military/aerospace. However, orders from global distributors are decreasing rapidly.”

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