The Washington Post Acquires Forney Corporation

Before you go, we thought you'd like these...
Before you go close icon

The Washington Post has announced plans to acquire power plant and industrial systems provider, Forney Corporation. Both parties plan for the deal to close in early August.

David E. Graham, chief executive officer and chairman for the Washington Post Company, is confident that this new acquisition will help the Washington Post diversify and expand itself even further. In a statement to the press, Graham said the Forney acquisition is part of the Post's "ongoing strategy of investing in companies with demonstrated earnings potential and strong management teams attracted to our long-term investment horizon."

Forney, a global leader in electric utility and industrial applications, is currently a part of the UTC Climate, Controls and Security branch of United Technologies Corporation. After the deal closes, Forney's general manager, Tom Demrick, and the company's original management team, will stay on board to operate the business. Neither party disclosed the price of the transaction.

The article The Washington Post Acquires Forney Corporation originally appeared on

Fool contributor Caroline Bennett has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

People are Reading