| Nordson Acquires X-Ray OEM Dage |
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| Written by Mike Buetow | |||
| Friday, 17 November 2006 06:12 | |||
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WESTLAKE, OH – Nordson Corp. today announced that it has signed a definitive agreement to acquire testing and inspection equipment manufacturer Dage Holdings, Ltd. Terms of the purchase were not disclosed. The acquisition is subject to review by the German Federal Cartel Office. Nordon also owns Asymtek, March Plasma Systems and EFD, among others. Dage employs more than 200 people and had revenues of approximately $59 million during the 12-month period ending Oct. 31. Dage makes bond testing and digital x-ray systems. “The purchase of Dage fits Nordson’s strategy of acquiring companies with above-average growth in markets currently served by Nordson companies,” said Edward P. Campbell, chairman and chief executive. “Over the three-year period ending April 30, Dage revenues and operating profit grew at annual rates of 24% and 69%, respectively. These growth rates are nearly identical to those of Nordson’s Advanced Technology Systems segment, which since 2003 has grown revenues and operating profit at annual rates of 23% and 59%, respectively.” Campbell added, “Dage’s operating margins during the first half of its fiscal 2007 were 21%. The acquisition is expected to be accretive to Nordson’s fiscal year 2007 earnings per share.
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| Last Updated on Wednesday, 20 June 2007 09:06 |
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