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July 17, 2014
16:32 EDTVSHVishay: Capella Microsystems board recommends shareholders tender shares
Vishay Intertechnology announced that the board of Taiwan-based Capella Microsystems, which Vishay intends to acquire, has determined that the price per share offered by Vishay in a tender offer is reasonable and has recommended that shareholders of Capella tender their shares. A special offer review committee of Capella separately has made the same determination and recommendation. On July 11, Vishay entered into an agreement to acquire Capella for approximately NT$6,051M or US$205M. Vishay intends to acquire Capella first through a tender offer of up to 100 percent of Capella’s outstanding shares at a price of NT$139 per share. The tender offer is conditioned upon at least a majority of the outstanding shares being tendered. The period to tender outstanding shares ends on September 1, but could be extended pursuant to local regulations. If a majority of the outstanding shares are tendered and the government approvals are obtained, the tender offer is expected to close in September 2014 followed by Vishay’s acquisition of 100% of Capella in a merger by the end of January 2015. In 2013, Capella had revenues of NT$1,873M or approximately US$63 million achieving gross margins in the high 40%s and EBITDA of approximately US$19M; cash and cash equivalents were approximately US$60M without any long-term debt.
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July 6, 2015
10:18 EDTVSHVishay discloses intention to close Netherlands aluminum capacitor facility
In a regulatory filing, Vishay disclosed that it intends to close its Zwolle, Netherlands aluminum capacitor facility and transfer production to other Vishay facilities and third party sources. Due to certain automotive qualification requirements, the full implementation of these plans will not be completed until the second fiscal quarter of 2016. Vishay expects to make severance payments to the approximately 50 employees of the Zwolle facility. The amount of the severance payments is subject to negotiation with the labor council which represents the employees. The Company is unable at this time to estimate the ultimate cost of the Zwolle facility closure, and will file an amended Form 8-K upon determining the total expense to be incurred.

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