Neenah Enterprises, Inc.; Neenah Foundry Company
Neenah Enterprises, Inc. and Neenah Foundry Company Announce Acquisition of Morgan's Welding, Inc.
Published in Law and Health Weekly, August 30th, 2008
Neenah Enterprises, Inc. and Neenah Foundry Company (collectively, the "Company") announced that a newly-created wholly-owned subsidiary of the Company has purchased substantially all of the business and assets of Morgan's Welding, Inc., a steel fabricator located in Pennsylvania, for a cash purchase price of $3.85 million plus the assumption of approximately $0.3 million of current liabilities, subject to a working capital adjustment. Upon closing, the new subsidiary changed its name to Morgan's Welding, Inc.
The purchase was financed through borrowings under the Company's existing credit facility. The Company expects this acquisition to significantly improve its...
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