WESTLAKE, Ohio–(BUSINESS WIRE)–Nordson Company (Nasdaq: NDSN) immediately introduced that it has closed the divestiture of the screws and barrels product line from its polymer processing programs (PPS) division to Altair Investments (Altair).
Nordson and Altair signed a definitive settlement on December 3, 2020, for the sale of the screws and barrels product line. Producing greater than $70 million in annual income with 500 workers, this world product line had been reported in Nordson’s Industrial Precision Options phase. This strategic portfolio transaction will enhance the corporate’s ongoing earnings.
Sure statements contained on this launch are forward-looking statements inside the which means of the Non-public Securities Litigation Reform Act of 1995. Ahead-looking statements could also be recognized by terminology reminiscent of “might,” “will,” “ought to,” “may,” “expects,” “anticipates,” “believes,” “initiatives,” “forecasts,” “outlook,” “steering,” “proceed,” “goal,” or the unfavorable of such phrases or comparable terminology. These statements mirror administration’s present expectations and contain quite a few dangers and uncertainties. These dangers and uncertainties embody, however aren’t restricted to, U.S. and worldwide financial circumstances, monetary, and market circumstances, forex change charges and devaluations, potential acquisitions together with the Firm’s potential to efficiently combine acquisitions; the results of adjustments in U.S. commerce coverage and commerce agreements; the results of adjustments in tax regulation; and the potential results of occasions past our management, reminiscent of political unrest, acts of terror, pure disasters and pandemics, together with the present coronavirus (COVID-19) pandemic and the opposite components mentioned in Merchandise 1A (Danger Components) within the Firm’s most not too long ago filed Annual Report on Kind 10-Ok and on its Kind 10-Q with the Securities and Trade Fee, which ought to be reviewed rigorously. The Firm undertakes no obligation to replace or revise any forward-looking assertion on this press launch.
Altair Investments Inc. is a Chicago-based personal fairness agency centered on investing in area of interest manufacturing firms within the decrease center market. Its companions convey greater than 35 years of worldwide expertise within the monetary and manufacturing industries. Altair’s most up-to-date acquisitions embody NVEyeTech and Marathon Boat Group. Go to Altair on the net at www.altairinvestmentsinc.com.
Nordson Company engineers, manufactures and markets differentiated merchandise and programs used for the precision shelling out of adhesives, coatings, sealants, biomaterials, polymers, plastics and different supplies, fluid administration, check and inspection, UV curing and plasma floor therapy, all supported by software experience and direct world gross sales and repair. Nordson serves all kinds of client non-durable, sturdy and know-how finish markets together with packaging, nonwovens, electronics, medical, home equipment, power, transportation, building, and basic product meeting and ending. Based in 1954 and headquartered in Westlake, Ohio, the Firm has operations and help workplaces in additional than 35 international locations. Go to Nordson on the net at http://www.nordson.com, @Nordson_Corp, or www.facebook.com/nordson.