Vacon buys TB Wood's AC drives ops for $29 million
HELSINKI |
HELSINKI (Reuters) - Finnish electronics firm Vacon (VAC1V.HE) said on Wednesday it had agreed to buy the AC drives business of TB Wood's Corp., part of U.S.-based Altra Holdings Inc (AIMC.O), for $29 million.
"After the acquisition, Vacon will have sales on all continents, and R&D and production on three continents," Vacon said. "The transaction includes two factories in the United States, one factory in Italy and one in India, and a sales company in Germany."
(Reporting by Tarmo Virki, editing by Will Waterman)
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