UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
__________________________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): August 27, 2004
__________
VISHAY INTERTECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
Delaware 1-7416 38-1686453
-------- ------ ----------
(State or Other Jurisdiction of (Commission (I.R.S. Employer
Incorporation) File Number) Identification Number)
63 Lincoln Highway, Malvern, PA 19355-2120
-------------------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip code)
Registrant's telephone number, including area code 610-644-1300
------------
(Former name or former address, if changed since last report.)
Item 2.05 - Costs Associated with Exit or Disposal Activities
On August 27, 2004, Vishay Intertechnology, Inc. announced that it intends to
close its Colmar, France small-signal diode assembly facility and transfer
production to other Vishay facilities. The closure of the Colmar facility,
expected to be completed by the end of the first quarter of 2005, is consistent
with Vishay's on-going strategy to improve competitiveness and reduce costs by
shifting production from high-labor-cost markets to lower-labor-cost markets.
The Colmar facility was acquired as part of Vishay's acquisition of General
Semiconductor, Inc. in November 2001. At that time, Vishay planned to transfer
certain product manufacturing from Colmar to other Vishay locations. The
Company's plans have been expanded such that it will shift production of all
products manufactured at Colmar.
Vishay expects to make severance payments to the 290 employees of the Colmar
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 Colmar facility closure, and will file
an amended Form 8-K upon determining the total expense to be incurred. Most of
the severance payments are expected to be made by December 31, 2004, with a
portion to be paid in the first half of 2005. Other exit costs for the Colmar
facility are not expected to be significant. Vishay intends to move
substantially all of the equipment from the Colmar facility to other Vishay
locations, and does not presently anticipate any loss on the sale of the land or
building.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, Vishay
Intertechnology, Inc. has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
Date: August 31, 2004
VISHAY INTERTECHNOLOGY, INC.
By: /s/ Richard N. Grubb
--------------------------------
Name: Richard N. Grubb
Title: Executive Vice President and
Chief Financial Officer