Vishay Precision Group Inc (NYSE: VPG) said on Monday that it had acquired Nokra Optische Prueftechnik & Automation GmbH – a privately held maker of precision measuring and testing equipment for manufacturing, based in Germany.
However, the company did not disclose any financial details of the agreement.
“We are pleased to add Nokra’s products to the VPG family. Nokra’s technologies fit well with our focus on sensor and precision measurement solutions,” Saul Reibstein, Chairman of the Board of VPG, said in a press release.
“Nokra’s laser-based measuring systems expand upon our existing KELK measurement and inspection solutions for steel and aluminum rolling mills, as well as for the metal processing industry around the world. Nokra’s systems offer customers a high-value alternative to existing technologies in the market and the acquisition dovetails with our long-term strategy to address growing opportunities for optimized production and quality control solutions,” Ziv Shoshani, Chief Executive Officer of VPG, said.
Stock Performance
The shares of Vishay Precision Group Inc (VPG) closed 1.61% ($0.41) higher at $25.90 in New York on Monday, as they extended the gains from the previous two market sessions.
The company’s total market cap now stands at $343.302 million.
The shares of Vishay Precision Group Inc (VPG) went down 11.85% in 2023, compared with a 10.99% gain for the benchmark index, NYSE Composite (NYA).
The company’s shares have retreated 23.98% so far this year.
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