ParkOhio to Acquire Italian Equipment Manufacturer - Modern Distribution Management

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ParkOhio to Acquire Italian Equipment Manufacturer

Companys Ajax Tocco Magnethermic division to pay $22.9 million for Saet S.p.A.
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ParkOhio Industries, Inc., Cleveland, OH, a subsidiary of ParkOhio Holdings Corp. (NASDAQ: PKOH), will acquire equipment manufacturer Saet S.p.A., Milan, Italy, for €18.4 million (US$22.9 million) through its Ajax Tocco Magnethermic division.

Saet manufactures induction heating equipment and heat treat solutions through locations in Italy, China, India and Tennessee.

ParkOhio is a provider of supply chain logistics services and a manufacturer of highly engineered products. The company operates 41 manufacturing sites and 55 supply chain logistics facilities.

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