The R&D center in Yokne'am is based on Cyoptics, which Vishay acquired in 2005.
Electronics components maker Vishay Intertechnology Inc. (NYSE: VSH) is reducing activity in Israel and is closing its facility in Yokne'am, which is based on Cyoptics, which the company acquired for $10 million in 2005.
Vishay Israel president Marc Zandman attributed the closing of the facility to the economic crisis. He said, "The company has decided to refocus and cancel some projects." The Yokne'am facility, which has 15 employees, is one of several Vishay facilities worldwide that the company is shuttering.
Vishay's Yokne'am facility developed processors for optical networks, and its fab was in the pilot stage. Zandman said that some of employees at the Yokne'am facility would be transferred to Vishay's other activities in Israel.
Published by Globes [online], Israel business news - www.globes-online.com - on January 20, 2009
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