-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FITLAx1C8Q3WNjj7YOM/0n4xd9cJvejc0truwpxOLmaG1/F/Z7p15sV6dXba/6As rAKmzY2IRLilGNzerAkLTA== 0000922423-03-000050.txt : 20030123 0000922423-03-000050.hdr.sgml : 20030123 20030123155339 ACCESSION NUMBER: 0000922423-03-000050 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030121 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030123 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VISHAY INTERTECHNOLOGY INC CENTRAL INDEX KEY: 0000103730 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPONENTS & ACCESSORIES [3670] IRS NUMBER: 381686453 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07416 FILM NUMBER: 03522441 BUSINESS ADDRESS: STREET 1: 63 LINCOLN HWY CITY: MALVERN STATE: PA ZIP: 19355 BUSINESS PHONE: 6106441300 MAIL ADDRESS: STREET 1: 63 LINCOLN HIGHWAY CITY: MALVERN STATE: PA ZIP: 19355 8-K 1 kl01021_8k.txt FORM 8-K CURRENT REPORT ----------------------------- 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): January 21, 2003 Vishay Intertechnology, Inc. ------------------------------------ Delaware 1-7416 38-1686453 - ------------------------ ---------------------- ---------------------- (State or other (Commission File (IRS Employer jurisdiction Number) Identification No.) of incorporation) 63 Lincoln Highway, Malvern, Pennsylvania 19355-2120 -------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (610) 644-1300 ---------------------------- N/A ----------------------------------------------------------------- (Former name or former address, if changed since last report) Item 5. Other Events. On January 21, 2003, Vishay Intertechnology, Inc. announced that its results for 2002 will reflect a write-down of its current inventory of tantalum powder and wire and an accrual for its commitments under contracts for the supply of tantalum, in the range of $130 million to $150 million before taxes. A copy of the press release issued by Vishay is attached as Exhibit 99.1. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits Exhibit No. Description - ----------- ----------- 99.1 Press release dated January 21, 2003. SIGNATURES ---------- Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. VISHAY INTERTECHNOLOGY, INC. By /s/ Avi D. Eden -------------------------------- Avi D. Eden Executive Vice President and General Counsel Date: January 23, 2003 EXHIBIT INDEX Exhibit No. Description - ----------- ----------- 99.1 Press release dated January 21, 2003. EX-99 3 kl01021_ex99-1.txt EXHIBIT 99.1 PRESS RELEASE Exhibit 99.1 NEWS RELEASE Contact: Richard N. Grubb, Executive Vice President and Chief Financial Officer or Robert A. Freece Senior Vice President 610/644-1300 FOR IMMEDIATE RELEASE VISHAY ANNOUNCES $130-$150 MILLION PRE TAX CHARGE FOR TANTALUM INVENTORY AND CONTRACTS MALVERN, PENNSYLVANIA - January 21, 2003 - Vishay Intertechnology, Inc. (NYSE:VSH) announced today that its results for 2002 will reflect a write-down of its current inventory of tantalum powder and wire and an accrual for its commitments under contracts for the supply of tantalum by Cabot Corporation that are for prices in excess of market. The non-cash charge will be in the range of $130 million to $150 million before taxes. Vishay's action reflects weak product demand for tantalum that is below 1999 levels and increased tantalum production capacity, which together have resulted in substantial worldwide capacity under-utilization and severely depressed pricing for this commodity. In June 2002, Vishay agreed with Cabot to amend two agreements for the supply of tantalum powder and wire. The parties agreed to reduce volumes, and starting in 2003, prices of tantalum products under the agreements and to extend the longer-term agreement by one year through 2006. Vishay, a Fortune 1,000 Company listed on the NYSE, is one of the world's largest manufacturers of discrete semiconductors (diodes, rectifiers, transistors, optoelectronics, and selected ICs) and passive electronic components (resistors, capacitors, inductors, and transducers). The Company's components can be found in products manufactured in a very broad range of industries worldwide. Vishay is headquartered in Malvern, Pennsylvania, and has plants in sixteen countries employing over 25,000 people. Vishay can be found on the Internet at http://www.vishay.com. ### -----END PRIVACY-ENHANCED MESSAGE-----