Vishay Precision To Buy Back Up To 500K Shares - Quick Facts

(RTTNews) - Vishay Precision Group, Inc. (VPG), a producer of precision sensors and systems, based on its resistive foil technology, said its board has approved a stock repurchase plan, authorizing the firm to repurchase in the aggregate up to 500,000 outstanding common shares.

Commenting on this, Marc Zandman, VPG's Chairman of the Board said: "We are confident in our long-term growth strategy and believe our strong balance sheet provides ample cash to finance this program, continue our investments in current operations and pursue our acquisition strategy."

The firm plans to fund share buybacks via. cash on hand and cash generated from its operations and borrowings under its revolving credit facility. The company had around 12.7 million common shares outstanding as of September 23, 2014.