2nd Jul 2015 09:04
LONDON (Alliance News) - FTSE 250-listed engineer Spirax-Sarco Engineering PLC on Thursday said it has acquired the MasoSine sinusoidal pump manufacturing and distribution arm of PRIMIX Corp in Japan for GBP2.8 million.
Spirax said the business will operate as a new company within its Watson-Marlow Fluid Technology Group subsidiary and will provide the Watson-Marlow business with a direct sales presence in the Japanese market for the first time.
It expects the deal to provide an immediate, small benefit to its earnings per share for the current year.
Spirax-Sarco shares were flat at 3,392.00 pence Thursday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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