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Standex International Purchases CIN-TRAN Inc.
October 8, 2002 |Estimated reading time: Less than a minute
Salem, N.H. and Cincinnati -- Standex International Corp. has purchased substantially all of the assets of CIN-TRAN Inc.
CIN-TRAN sells its products primarily to the lighting, lawn service and water heater controls markets. Standex expects that the acquisition will be accretive to earnings in the first year. CIN-TRAN, which had annual revenues of approximately $4 million, will be part of the company's Standex Electronics Group. Terms of the acquisition agreement were not disclosed. The CIN- TRAN acquisition by the Electronics Group joins other recent acquisitions ATR Coil, Classic Coil and ATC-Frost.
CIN-TRAN Inc. was founded in 1964 as a sole supplier of custom transformers to a battery charger manufacturer. The company now designs and manufactures custom transformers to more than 30 industries throughout the world.
Standex International Corp. is a multi-industry manufacturer in three broad business segments: Food Service, Industrial and Consumer with operations in the United States, Europe, Canada, Australia, Singapore and Mexico. For more information, visit www.standex.com.