Graco Inc. (GGG) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Graco Inc. (GGG)

GGG 91.60

0.0%

10:08 AM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: JakeStraw	12/3/2007 10:13:30 AM
	of 9

Graco Enters into a Definitive Agreement to Acquire Cohesant Technologies' GlasCraft Subsidiary biz.yahoo.com Monday December 3, 9:00 am ET MINNEAPOLIS--(BUSINESS WIRE)--Graco Inc. (NYSE:GGG) announced today that it has entered into a definitive agreement to acquire Cohesant Technologies’ (NASDAQ:COHT) GlasCraft Inc. (“GlasCraft”) subsidiary for $35 million, which amount includes certain assumed debt and transaction costs. The acquisition will be accomplished through a merger with GlasCraft’s parent entity, Cohesant Technologies Inc., and a spin off of all non-GlasCraft business operations. The acquisition, which is expected to be completed in the first quarter of 2008, is subject to customary closing conditions including the approval of Cohesant Technologies’ stockholders. GlasCraft developed the first spray system for the Composites manufacturing industry nearly 45 years ago and today manufactures and sells industry-leading solutions for both open and closed-mold applications. GlasCraft also designs, manufactures and sells high performance dispense systems for the polyurethane foam and polyurea coatings industries. Graco’s President and Chief Executive Officer Patrick J. McHale said, “GlasCraft is a well respected company we have been interested in acquiring for several years. The company has approximately 70 employees and annual sales of approximately $18 million. The company is recognized for its presence in the global composites market as well as the polyurethane foam and polyurea coatings markets. GlasCraft’s products, brands and engineering capabilities highly complement Graco’s core businesses, creating an opportunity to leverage each company’s unique strengths and create future sales and net earnings growth.”

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next