Rotork acquires K-Tork International Inc
Rotork, the specialist engineering company, announced that it has acquired all the share capital of K-Tork International Inc. ( " K - Tork ") , based in Dallas, Texas, USA for a consideration of $10.6 million and Centork Valve Control S.L. ("Centork") based near San Sebastian, North East Spain for a consideration €3.6 million . Both purchases were paid in cash.
Commenting on the acquisitions Rotork Group Chief Executive Peter France said:
"The acquisition of K-Tork which will fit into our Rotork Fluid Systems Division, will strengthen our market presence in the water, industrial and power sectors as well as extend our product portfolio with the K-Tork vane actuator.
The acquisition of Centork provides Rotork Controls Division with an additional electric actuator range that complements its products. Centork's product range features a high efficiency compact modular.