Vishay Precision Group(VPG) - 2024 Q4 - Annual Report

Manufacturing and Operations - The company is shifting manufacturing to regions with advanced automation and lower labor costs to maintain cost competitiveness[62] - The company maintains a safety stock inventory of certain critical materials, as some specialized materials are sourced from a single vendor[301] - Significant price volatility in certain metals used in manufacturing could materially and adversely affect the company's results of operations[301] Employment and Workforce - As of December 31, 2024, the company employed approximately 2,200 employees, with 82% located outside the United States[83] Financial Position - The company had $32.0 million in borrowings outstanding under a revolving credit facility as of December 31, 2024[295] - At December 31, 2024, the company had$79.3 million in cash and cash equivalents, accruing interest at various variable rates[295] Interest Rate Impact - A 50 basis point change in interest rates is expected to impact annualized net earnings by $0.2 million for both 2024 and 2023[296] Customer Base - The company maintains a diversified customer base with no single customer accounting for more than 10$4.1 million for the year ended December 31, 2024, and $3.7 million for the year ended December 31, 2023[299] - The company’s exposure to foreign currency risk is more pronounced in Israel and India due to a higher percentage of expenses denominated in local currencies compared to sales[298] - A change in the mix of currencies could materially affect the estimated impact of a hypothetical 10$1.0 million and $1.2 million for the years ended December 31, 2024 and 2023, respectively[303] - The company may face decreased margins if it cannot pass on increased raw material costs to customers during periods of rising prices[302] - The company may need to record losses for adverse purchase commitments for raw materials in periods of declining prices[302]