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Israeli owner for PM Group
12th April 2007, Page 7
12th April 2007
Page 7
Page 7, 12th April 2007
— Israeli owner for PM Group
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ON-BOARD vehicle weighing specialist PM Group has agreed to a cash takeover from Israeli company VIEC, a subsidiary of semiconductor and passive component manufacturer Vishay Intertechnology. The deal values PM shares at £1.50, equating to a price of about £22.3m.
The deal follows a drop in PM's first-half profits; in its report the company saw no indication of the business climbing back to previous levels.
PM's electrical contracting business. PWE, will be sold to PM chief executive Geoffrey Mountain for 0.25m.
• PM Onboard will launch its PM1155 indicator at this years