K-Tron acquires Premier Pneumatics
Pitman, N.J.-based K-Tron International, Inc. has acquired all the stock of privately held Premier Pneumatics, Inc....
October 6, 2006 by Canadian Plastics
Pitman, N.J.-based K-Tron International, Inc. has acquired all the stock of privately held Premier Pneumatics, Inc., for US$27.565 million, K-Tron announced October 5.
The Salina, Kan.-based Premier manufactures pneumatic conveying and bulk handling equipment.
K-Tron expects to keep Premier’s current management in place following the acquisition including Mike Wedel, vice-president of sales and marketing; Todd Smith, vice-president of engineering and manufacturing; and Gary Lee, vice-president of finance.
Kevin Bown, senior vice-president of K-Tron, who is responsible for the K-Tron Process Group, will also serve as Premier’s president.
“The acquisition of Premier significantly expands the scope of K-Tron’s activities in the pneumatic conveying business, which we entered in 1997, and in the solids feeding business,” Edward B. Cloues II, K-Tron’s chairman and CEO, said.
The acquisition will allow K-Tron and Premier to establish a one-stop-shop for integrated pneumatic conveying and feeding systems, with engineering, manufacturing, commissioning and after-sale service, he added.
And because K-Tron has an extensive global network of wholly owned subsidiaries and independent sales representatives, Premier will be able to expand its scope beyond the North American market, he noted.