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Vishay Intertechnology Inc. will acquire Infineon's entire infrared components business for approximately $120 million
June 28, 2001
MUNICH and MALVERN, Pa. -- Vishay Intertechnology Inc., Malvern, Pennsylvania (NYSE: VSH), and Infineon Technologies AG, Munich (FSE/NYSE: IFX), today announced that Vishay will acquire Infineon’s entire infrared components business with worldwide headquarters in San Jose, California, for approximately US$ 120 million. Under the terms of the respective agreement Vishay will take over Infineon’s development, marketing and distribution activities in San Jose and its production facility in Malaysia. A total workforce of approximately 1,200 is currently employed within this business. In fiscal year 2000 Infineon’s infrared components business posted revenues of US$ 133 million. Subject to governmental approvals including the anti-trust authorities, the sale is expected to be completed by end of July 2001.“This divestiture is another important step to streamline our communications portfolio. With the sale of the infrared components business and the sale of our consumer electronics to Micronas last November, we have completed our plan to concentrate our wireline activities for the present and will continue to expand our strategic core activities in the field of local area networks (LAN) and wide area networks (WAN) as well as in network access,” explained Dr. Ulrich Schumacher, President and CEO of Infineon. “In Vishay, we have found an excellent partner with a mutual interest in securing the future of the successful and profitable infrared components business.”Infineon Technologies AGVishay Intertechnology Inc.
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