Vishay Precision Group acquires George Kelk

The acquisition is expected to close by January 31, 2013, subject to the satisfaction of customary conditions. Commenting on the acquisition, Marc Zandman, Chairman of the Board of VPG said, “This is the first acquisition by VPG and we are excited to welcome the KELK family into VPG. This acquisition follows our corporate growth strategy and allows us to expand our existing product portfolio of complementary products that use resistive foil technology.” Commenting on the acquisition, Ziv Shoshani, Chief Executive Officer of VPG, said, “KELK is an excellent fit with VPG’s Weighing and Control Systems segment. Their products are complementary to our process weighing market sector for weighing and force measurement applications in the steel industry, where we are present with our two leading brand names of Nobel Weighing Systems and BLH. KELK is a worldwide leader in optical and roll force measurement solutions, which are based on VPG’s resistive foil technology.” The purchase price for this business is approximately $50 million Canadian, subject to customary post-closing adjustments. VPG will finance the acquisition through a combination of cash on hand and third party borrowings.