MILWAUKEE--(BUSINESS WIRE)--
Actuant Corporation (NYSE:ATU) announced today that it has completed the
acquisition of New Jersey based Biach Industries ("Biach") which
provides custom designed bolt and stud tensioning products and services,
predominately for the nuclear industry. Biach's annual sales approximate
$6 million.
The acquisition will operate as part of Hydratight in Actuant's Energy
Segment. Brian Kobylinski, Executive Vice President Energy and
Industrial Segments, stated, "Biach is a great addition to our
diversified energy platform, broadening our product and service offering
for the global nuclear power generation market. Its strong customer
relationships, engineering expertise and customized products will
further strengthen our market leading joint integrity solutions for the
global energy markets."
About Actuant
Actuant Corporation is a diversified industrial company with operations
in more than 30 countries. The Actuant businesses are leaders in a broad
array of niche markets including branded hydraulic and electrical tools
and supplies; specialized products and services for energy related
industries and highly engineered position and motion control systems.
The Company was founded in 1910 and is headquartered in Butler,
Wisconsin. Actuant trades on the NYSE under the symbol ATU. For further
information on Actuant and its businesses, visit the Company's website
at www.actuant.com.
Safe Harbor
Certain of the above comments represent forward-looking statements made
pursuant to the provisions of the Private Securities Litigation Reform
Act of 1995. Management cautions that these statements are based on
current estimates of future performance and are highly dependent upon a
variety of factors, which could cause actual results to differ from
these estimates. Actuant's results are also subject to general economic
conditions, variation in demand from customers, the impact of
geopolitical activity on the economy, continued market acceptance of the
Company's new product introductions, the successful integration of
acquisitions, restructuring, operating margin risk due to competitive
pricing and operating efficiencies, supply chain risk, material and
labor cost increases, foreign currency fluctuations and interest rate
risk. See the Company's Form 10-K filed with the Securities and Exchange
Commission for further information regarding risk factors. Actuant
disclaims any obligation to publicly update or revise any
forward-looking statements as a result of new information, future events
or any other reason.
Source: Actuant Corporation
Released April 27, 2010