In regard to the purchase of the two German companies, "our immediate focus is to grow the Kreyenborg business by leveraging their technology...with... our recent acquisitions," Wilbum said, referring to EDI and Xaloy.
Nordson will also look to further expand Kreyenborg through both organic and inorganic methods as well, he said.
The deal is expected to close within the next two months. Kreyenborg officials couldn't be reached for comment.
Established in 1954, Nordson has operations in more than 30 countries. With a market capitalization of $4.77 billion, Nordson trades on Nasdaq under the ticker symbol, NDSN. On July 17, Nordson's stock closed at $74.31. It was trading at $74.25 midday Thursday.-- Written by Tatjana Kulkarni in New York
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV