Moog Inc. (MOG.A) Acquires AITECS Medical UAB for $21 Million; Deal Neutral to 2009 Earnings

December 30, 2008 4:22 PM EST
Moog Inc. (NYSE: MOG.A) (NYSE: MOG.B) has acquired 100% of the stock of AITECS Medical UAB, a Lithuanian-based manufacturer of syringe-style infusion therapy pumps, for euro 15 million ($21 million), paid in cash. Founded in 1993, AITECS has a product portfolio that includes pumps for general hospital use, operating rooms and patient controlled analgesia.

Sales for AITECS will be approximately euro 4 million ($6 million) for the balance of Moog's fiscal year 2009. This acquisition is expected to be neutral to Moog's earnings per share for the year ending October 3, 2009 due to first year purchase accounting adjustments.

Moog Inc. is a worldwide designer, manufacturer, and integrator of precision control components and systems.[SM]

You May Also Be Interested In

Related Categories

Mergers and Acquisitions