Vishay Precision Group (VPG) Inc., producer of precision sensors and systems has signed a definitive agreement to acquire the assets of Toronto-based George Kelk Corp, a privately held designer and manufacturer of mission critical electronic measurement and control equipment.
“This acquisition follows our corporate growth strategy and allows us to expand our existing product portfolio of complementary products that use resistive foil technology,” says Marc Zandman, Chairman of the Board of VPG.
The acquisition is expected to close by January 31, 2013, subject to the satisfaction of customary conditions. Kelk’s equipment is used by metals rolling mills and mining applications throughout the world.
“Kelk’s products are complementary to our process weighing market sector for weighing and force measurement applications in the steel industry, where we are present with our two leading brand names of Nobel Weighing Systems and BLH. KELK is a worldwide leader in optical and roll force measurement solutions, which are based on VPG’s resistive foil technology,” says Ziv Shoshani, CEO of VPG.
Ziv Shoshani also stated, “Beyond the complementary products, Kelk will widen and strengthen our geographic footprint in the steel market, in which VPG is mainly in Europe while Kelk is strong in Asia, Latin America and North America and certain emerging markets.”
The purchase price for this business is approximately $50-million Canadian, subject to customary post-closing adjustments.