By John Leonard:
Vishay Precision Group (VPG) is an asymmetric investment given the significant discount to its peer group, high operating leverage, diversification on multiple levels, dominant market position and strong balance sheet.
Company overview
VPG provides components, sensors and sensor-based systems based on its proprietary foil technology that measure stress, force, weight, pressure and current. The products are primarily used in the industrial market with selected uses in military and aerospace, medical, agriculture and construction. Within the industrial market, the products are used in a wide range of industries including waste management, bulk hauling, logging, scale manufacturing, engineering systems, pharmaceutical, oil, chemical, steel, paper and food. VPG was spun off from its parent Vishay Intertechnology in July 2010.
The three product segments include:
Foil Technology Products is comprised of the foil resistor and strain gage operating segments.
Force Sensors is comprised of transducers, load cells and modules.
Weighing and Control Systems is
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