Park-Ohio to Acquire Molded Products Maker Bates

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Engineered products and supply management services provider Park-Ohio Holding said it was making a "look-alike" acquisition of molded products maker Bates for an undisclosed sum of money. 

Park-Ohio is headquartered in Cleveland and operates 37 manufacturing sites and 45 supply chain logistics facilities throughout North America, Europe, and Asia. Bates is a manufacturer of extrusion, formed, and molded products for transportation and industrial applications.

Park-Ohio Chairman and CEO Edward F. Crawford said: "Bates is another example of a look-alike acquisition that fits with Park-Ohio's current goal of growing its three business silos. Bates has been in the business over 40 years and has been servicing a great list of customers with an experienced workforce. We expect the annual revenues from Bates to exceed $45 million and be accretive to Park-Ohio earnings."


The diversified products maker was founded in 1961 and has 3,600 employees. Park-Ohio had $1.1 billion in revenues in 2012.

PKOH Revenue TTM Chart

PKOH Revenue TTM data by YCharts

The article Park-Ohio to Acquire Molded Products Maker Bates originally appeared on Fool.com.

Fool contributor Rich Duprey and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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