Vishay Precision Group acquires Nokra

MALVERN, Pa., Sept. 30, 2024 (GLOBE NEWSWIRE) — Vishay Precision Group, Inc. (NYSE: VPG), a leader in precision measurement and sensing technologies, today announced the acquisition of Nokra Optische Prueftechnik & Automation GmbH (Nokra), private manufacturer of precision measuring and testing equipment for industry based in Germany. Terms of the transaction were not disclosed.

Commenting on the acquisition, Saul Reibstein, CEO of VPG, said: “We are pleased to add Nokra products to the VPG family. Nokra technologies fit well with our focus on sensors and precision measurement solutions.”

Ziv Shoshani, CEO of VPG, commented: “Nokra’s laser measurement systems complement our existing KELK measurement and inspection solutions for steel and aluminum rolling mills, as well as the metalworking industry around the world. Nokra systems offer customers a valuable alternative to existing technologies in the market, and the acquisition is part of our long-term strategy to capitalize on growing opportunities for optimized manufacturing and quality control solutions.

Nokra’s laser measuring systems are used to precisely measure the thickness, flatness, contour, width or 3D profile of various metals, depending on the application, both in inline and offline production.

ABOUT KELK

Founded in 1953 and headquartered in Toronto, Canada, KELK (also known as Vishay Precision Group Canada ULC) is an ISO 9001:2015 certified organization specializing in the design and manufacture of state-of-the-art electronic measurement equipment used primarily in steel and aluminum rolling mills and in mining around the world. To learn more, visit KELK at www.kelk.com.

About VPG

Vishay Precision Group, Inc. (VPG) is a leader in precision measurement and detection technology. Our sensors, weighing solutions and measurement systems optimize and improve the performance of our customers’ products in a wide range of markets, making our world safer, smarter and more productive. To learn more, visit VPG at vpgsensors.com and follow us on LinkedIn.

Forward-Looking Statements

From time to time, information provided by us, including, without limitation, statements contained in this report or other statements made by us or on our behalf, may contain or constitute “forward-looking” information within the meaning of Private Securities Reform Act litigation. 1995. Such statements involve a number of risks, uncertainties and contingencies, many of which are beyond our control, which could cause actual results, performance or achievements to differ materially from those anticipated.

Such statements are based solely on current expectations and are subject to certain risks, uncertainties and assumptions. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, actual results could differ materially from those anticipated, expected, estimated or projected. Factors that could cause actual results to differ materially include: general business and economic conditions; the impact of inflation; potential U.S. federal government debt ceiling issues; global labor and supply chain challenges; difficulties or delays in identifying, negotiating and completing acquisitions and integrating acquired companies; inability to capitalize on anticipated synergies and expansion opportunities; difficulties in new product development; changes in competition and technology in the markets we serve and the range of our products required to meet these changes; changes in foreign currency rates; political, economic and health instability (including pandemics); instability due to hostilities in the countries where we operate (including Israel); difficulties in implementing our cost reduction strategies, such as underutilization of manufacturing facilities, labor unrest or legal challenges to our layoff or layoff plans, operation of redundant plants due to difficulties in relocating production to achieve efficiency; matters related to compliance with applicable laws, such as export control laws, including the impact of our voluntary disclosure of non-compliance with export control laws; significant changes resulting from recent and potential changes in tariffs and trade regulations; our efforts and those of government authorities to mitigate the Covid-19 pandemic, such as travel bans, shelter-in-place orders and business closures and the related impacts on resource allocation, production and supply chains; our status as a “critical,” “essential” or “life-sustaining” business under Covid-19-related business closure regulations, orders and guidance challenged by a governmental or other appropriate authority; our ability to implement our new corporate strategy and business continuity, operational and budgetary plans; and other factors affecting our business, markets, products, services and prices set forth in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. We caution you not to place undue reliance on forward-looking statements that apply only as of the date hereof or as of the dates otherwise indicated in such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Steve Cantor
Vishay Precision Group, Inc.
781-222-3516
[email protected]

This press release was published by a CLEAR® Verified Person.