Hammond Power Solutions Announces Intention To Acquire Italian Transformer Company
Posted: Feb 8,2013
General News Investor Relations
Guelph, Ontario, – Hammond Power Solutions (“HPS”) today announced that it has signed a definitive agreement with Marnate Trasformatori (“Marnate”) in Italy to acquire a 100% equity ownership of its business.
Marnate is involved in the design and manufacture of cast resin transformers and has an excellent reputation in the industry for product quality and reliability.
Marnate’s annual revenues in 2012 were approximately CDN $8,000,000.
HPS expects the deal to close in mid-February, 2013.