SPRAGUE SELLS BUSINESS TO VISHAY FOR $120 MILLION
SPRAGUE SELLS BUSINESS TO VISHAY FOR $120 MILLION STAMFORD, Conn., Feb. 18 /PRNewswire/ -- Sprague Technologies, Inc.
(NYSE: SPG) announced today that the sale of the company's tantalum capacitor and U.S. thick film network business to Vishay Intertechnology, Inc. for $120 million cash (subject to certain adjustments) was approved by stockholders at a special meeting Friday and that the closing of the transaction was completed Friday after the close of business. The company expects to record a loss on the sale of approximately $20 million which would be reported with the company's fourth quarter results.
-0- 2/18/92 /CONTACT: R. Kevin Matz of Sprague Technologies, 203-964-8628/ (SPG) CO: Sprague Technologies, Inc. ST: Connecticut IN: SU:
KD-OS -- NY022 -- 9778 02/18/92 09:22 EST
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|Date:||Feb 18, 1992|
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