Moog draws on bank facility to fund $24 million acquisition of Flo-Tork

New York, Nov. 22 - Moog Inc. said it borrowed on its credit facilities to fund the $24 million purchase of Flo-Tork, Inc.

The acquired company is expected to contribute $9 million in revenues for the remaining 10 months of Moog's fiscal 2006.

Orrville, Ohio-based Flo-Tork makes hydraulic and pneumatic rotary actuators and specialized cylinders for niche military and industrial applications.

Moog is an East Aurora, N.Y., maker of precision control components and systems.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.