Electronics Production |
Vishay bids on PM Group
Vishay has made an offer to acquire the whole of the issued share capital of UK based PM Group Plc through a wholly owned subsidiary.
By its terms, the offer is not available to persons in the United States and certain other jurisdictions; Vishay is not aware of any PM Group shareholders located in the United States. Vishay intends to only acquire PM Group's on-board vehicle weighing business, PM Onboard, and to immediately sell PM Group's second business, an electrical contracting business.
PM Onboard is an advanced designer and manufacturer of systems used in the weighing and process control industries. Their products are widely used in the market for bin and waste weighing devices as well as for onboard weighing systems in the bulk haulage market. These technologies are based on Vishay's strain gage technology. PM Onboard has expertise in instrumentation, system design, software development including wireless communication for weighing systems.
This acquisition will provide for Vishay's Measurements Group the foundation for growth in Europe in the market for bulk haulage. In addition, the expertise of PM Onboard can be used in the Americas and Asia to expand beyond bulk haulage into other areas of weighing systems and process control.
