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Vishay Precision Group Begins Trading on the
NYSE
MALVERN, PA – July 7,
2010 – Vishay Precision Group, Inc. (“VPG”) today announced that its shares
began trading on the New York Stock Exchange (“NYSE”) under the ticker symbol
VPG, following the completion of its spin-off from Vishay Intertechnology, Inc.
(“Vishay”) (NYSE: VSH).
Under the terms of the
spin-off, Vishay common stockholders of record as of 5:00 p.m. on June 25, 2010,
the record date for the distribution, received 1 share of VPG common stock for
every 14 shares of Vishay common stock they held, and Vishay Class B common
stockholders of record as of 5:00 p.m. on June 25, 2010 received 1 share of VPG
Class B common stock for every 14 shares of Vishay Class B common stock they
held.
“Our listing on the New
York Stock Exchange is an exciting day in the history of Vishay Precision Group,
and represents a new beginning for us as an independent publicly traded
company,” said Ziv Shoshani, president and chief executive officer of VPG.
“VPG is a leading
provider of sensors and sensor based systems for high precision measurement of
force, weight, pressure and currents, built on our proprietary resistive foil
technology. Our customers around the world can continue to rely on VPG, as an
independently publically traded company, to provide them with the quality
products and solutions they have come to expect from us. By building on our
leadership position we believe we will create value for our
stockholders.”
About Vishay Precision
Group
Vishay Precision Group
produces sensors based on resistive foil technology, and sensor-based
systems. We provide vertically integrated products and solutions for
multiple growing markets in the areas of stress measurement, industrial
weighing, and manufacturing process control. As a spin-off from Vishay
Intertechnology, we have a decades-long track record of innovation in foil
precision resistors, current sensors, and strain gages, which has served as a
foundation for our more recent expansion into strain gage instrumentation, load
cells and transducers, load cell modules, and complete systems for process
control and on-board weighing. Vishay Precision Group may be found on the
Internet at www.vishaypg.com.
Certain statements
contained in this release are forward-looking statements within the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. They include
statements regarding anticipated benefits and effects of the transaction for
both Vishay Intertechnology and Vishay Precision Group. These statements are
based on current expectations only and are subject to uncertainties and
assumptions. Factors that could influence the anticipated benefits and effects
of the spin-off include general business, economic and market conditions,
circumstances affecting the businesses of Vishay Intertechnology or Vishay
Precision Group discussed in the Annual Form 10-K Report of Vishay
Intertechnology and in the Form 10 of Vishay Precision Group or changes in
Vishay’s strategic plans and programs. We undertake no obligation to publicly
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
CONTACTS:
Vishay Precision Group
Bill Clancy
Chief Financial Officer
(484) 321-5300
Bill Clancy
Chief Financial Officer
(484) 321-5300
Joele Frank, Wilkinson
Brimmer Katcher
Sharon Stern / Jennifer Friedman
(212) 355-4449
Sharon Stern / Jennifer Friedman
(212) 355-4449