ParkOhio Enters Into Agreement To Acquire Italian Equipment Manufacturer – Saet S.p.A.
Nov 19, 2014
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ParkOhio (NASDAQ: PKOH) announced today that it has signed a definitive agreement with Milan, Italy based Star Capital SGR S.p.A. and other minority shareholders to acquire Saet S.p.A headquartered in Turin, Italy for approximately €18.4 million (approximately $22.9 million) in cash. The transaction is expected to close by December 22, 2014, subject to certain closing conditions.
Edward F. Crawford, Chairman and Chief Executive Officer, stated: "ParkOhio continues to expand its interest in manufacturing of induction heating equipment and parts and service centers.
Source: http://www.businesswire.com
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