News

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 £9.25m.

• PM Onboard will launch its PM1155 indicator at this year's Commercial Vehicle Show. It is designed to be used with the company's WasteWeigh and BulkWeigh equipment, which include tipping stability and axle loading programs.

The PM1155 warns when axle loading or gross weights are being exceeded and also highlights risks such as moving with the body raised, uneven payload distribution and sloping ground. It automatically recognises other trailers fitted with PM weighing equipment and does not have to be recalibrated.