International technology group Andritz has signed a contract for the acquisition of ASKO, Inc, a family-owned company headquartered in Homestead, Pennsylvania, US. ASKO has approximately 140 employees and generates annual sales of approximately US$40m.
According to Andritz, the acquisition is subject to the satisfaction of customary closing conditions, including applicable regulatory approvals. Closing is expected in the third quarter of 2018.
ASKO manufactures a wide range of shear knives, blades, liners, wear plates and accessories for the metals producing, processing and recycling industries. For Andritz, the acquisition further complements the service offerings for the metals industry.
ASKO, founded in 1933, serves international metals production companies and delivers its products from four locations: Homestead, PA; Rock Hill, SC; South Holland, IL, and Amsterdam, the Netherlands.
