Vishay Intertechnology Acquires Nexperia’s Newport Wafer Fab for $177 Million
March 06 2024 - 2:15AM
Vishay Intertechnology, Inc. (NYSE: VSH) today announced that it
has completed the acquisition of Nexperia’s wafer fabrication
facility and operations located in Newport, South Wales, U.K. for
approximately $177 million in cash, net of cash acquired.
The Newport wafer fab, located on 28 acres, is an
automotive-certified, 200mm semiconductor wafer fab with capacity
to produce more than 30,000 wafers per month. The fab is the UK’s
largest semiconductor fab with a long history in supplying
components to the automotive and industrial markets. Vishay plans
to position the facility as a manufacturing excellence center
focusing on Net Zero Transformation of decarbonization and
electrification.
As a new member of the Compound Semiconductor Cluster in South
Wales, Vishay plans to collaborate with local universities and
others in the UK to enhance its research and development efforts on
power compound semiconductors.
“The acquisition of Newport aligns with the strategic shift the
Board envisioned with its decision to appoint new leadership. Under
Joel’s leadership, Vishay is making this shift, investing in
technologies and incremental capacity to drive faster growth and
enhance returns to stockholders. The goal is to prepare Vishay to
capitalize on the megatrends of e-mobility, sustainability, and
connectivity,” said Marc Zandman, Executive Chairman of the
Board.
“With a Vishay-owned fab to qualify and scale our SiC portfolio,
we are accelerating our participation in the SiC MOSFETs and diodes
marketplace, as desired by our customers,” said Joel Smejkal,
President and CEO of Vishay. “In late 2022, the MaxPower
acquisition advanced our SiC intellectual property and MOSFETs
product technology. We are excited to further develop our SiC and
GaN technology as a new member of the Compound Semiconductor
Cluster in South Wales.”
“We welcome the highly skilled and dedicated employees at the
Newport wafer fab into the Vishay family. Vishay is committed to
investing in Newport to grow capacity, and to accelerate our SiC
and GaN production and technology development. We look forward to
the contributions of Newport’s employees to our shared success,”
added Mr. Smejkal. “With the completion of the acquisition, we are
now preparing to share our plans for Newport at our upcoming
Investor Day on April 2, 2024.”
The transaction was funded by Vishay with cash on-hand. To
affect the transaction, Vishay acquired a 100% interest in the
legal entity Neptune 6 Limited, and its wholly-owned operating
subsidiary, Nexperia Newport Limited, which owns and operates the
Newport facility. Neptune 6 Limited is expected to be renamed
“Vishay UK Holdings Limited” and Nexperia Newport Limited is
expected to be renamed “Vishay Newport Limited”.
About Vishay
Vishay manufactures one of the world’s largest portfolios of
discrete semiconductors and passive electronic components that are
essential to innovative designs in the automotive, industrial,
computing, consumer, telecommunications, military, aerospace, and
medical markets. Serving customers worldwide, Vishay is The
DNA of tech®. Vishay Intertechnology, Inc. is a Fortune
1,000 Company listed on the NYSE (VSH). More on Vishay at
www.Vishay.com.
Forward Looking Statement Statements contained
herein that relate to the Company's future performance, including
capital investment, capacity expansion and cash flow generation,
are forward-looking statements within the safe harbor provisions of
Private Securities Litigation Reform Act of 1995. Words and
expressions such as “will,” “expect,” “focus,” “intend,”
“committed,” “goal” or other similar words or expressions often
identify forward-looking statements. Such statements are based on
current expectations only, and are subject to certain risks,
uncertainties and assumptions, many of which are beyond our
control. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results, performance, or achievements may vary materially
from those anticipated, estimated or projected. Among the factors
that could cause such material variations include: that the fab
will not be integrated successfully into the Company’s overall
business; that the expected benefits of the acquisition may not be
realized; that the fab’s standards, procedures and controls will
not be brought into conformance within the Company’s operation;
difficulties in transitioning and retaining fab employees following
the acquisition; difficulties in consolidating facilities and
transferring processes and know-how; the diversion of our
management’s attention from the management of our current business;
risks of foreign operations, including excessive operation costs,
labor shortages, changes in tax rates; changes in foreign currency
exchange rates; uncertainty related to the effects of changes in
foreign currency exchange rates; difficulties in new product
development; changes in U.S. or foreign trade regulations and
tariffs, and uncertainty regarding the same; changes in applicable
domestic and foreign tax regulations, and uncertainty regarding the
same; and other factors that are set forth in our filings with the
Securities and Exchange Commission, including our annual reports on
Form 10-K and our quarterly reports on Form 10-Q. We undertake no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
The DNA of tech® is a trademark of Vishay
Intertechnology.
Contact:
Vishay Intertechnology, Inc.Peter HenriciExecutive Vice
President, Corporate Development+1-610-644-1300
Vishay Intertechnology (NYSE:VSH)
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