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Notable: K-Tron

Thu, 05/03/2007 - 7:49am

K-Tron International Inc., Pitman, NJ, has closed its previously announced agreement to acquire certain assets of Wuxi Chenghao Machinery Co. Ltd., a privately owned company in the Peoples Republic of China. The purchased assets were transferred from the seller to a newly created, wholly foreign-owned enterprise established by K-Tron, which will conduct business under the name Wuxi K-Tron Colormax Machinery Co. Ltd. The total cost of the transaction over a five-year period, including the purchase price and payments under related employment and other arrangements with Wuxi Chenghaos owner, could be as much as approximately $3.5 million. Wuxi K-Tron Colormax will be located in the Huishan district of Jiangsu province, approximately 60 miles west of Shanghai. The company will produce volumetric and gravimetric single- and twin-screw feeders and controls, vibratory trays, pelletizers, and pneumatic screen changers for use in plastics compounding and injection molding processes.

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