![]() The Company has sufficient cash on hand and availability under its revolving credit facility to finance the acquisition. This acquisition is expected to be neutral to Moog’s earnings per share for the year ended September 30, 2017. The acquisition is expected to add approximately $13 million to Moog’s sales for the remaining seven months of Moog’s 2017 fiscal year. ![]() Rotary had 2016 revenues of approximately $21 million. “In addition, it provides us a strategic base and a solid business in mainland Europe to further grow our slip ring business.” Vice President and President of Moog’s Components segment. "This acquisition gives the Components Group the opportunity to offer a complete line of industrial slip rings and rotary transfer solutions that meet the needs of our expanding customer base in Europe, Asia and North America," said Larry Ball, Moog Inc. The technology can be combined to include electrical, pneumatic, hydraulic and multi-channel fibre optic transfers and is typically used in tower cranes, radar systems, wind turbines, automotive and construction equipment. Rotary designs and manufactures a portfolio of electromechanical systems for the transfer of current, signals and data in rotating devices or structures. ![]() The transaction is subject to receipt of applicable regulatory approvals in Germany and customary closing conditions and is expected to happen within 60 to 90 days. The purchase price is €40 million ($42 million U.S.) in cash and includes Rotary’s European manufacturing sites in Antweiler, Germany and Chalon-St-Memmie, France. (NYSE:MOG.A) and (NYSE:MOG.B) announced today that it has entered into a definitive agreement to acquire the global Rotary Transfer Systems business (“Rotary”) from Morgan Advanced Materials.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |