ESCO Technologies (ESE) Tops Q4 EPS by 3c, Revenues Beat; Offers Q1 & FY20 EPS Guidance Below Consensus
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Go back to ESCO Technologies (ESE) Tops Q4 EPS by 3c, Revenues Beat; Offers Q1 & FY20 EPS Guidance Below Consensus
November 18, 2019 4:21 PM EST
ESCO Technologies Inc. (NYSE: ESE) (ESCO, or the Company) today announced it has entered into a definitive agreement regarding the sale of its Technical Packaging business segment, consisting of Thermoform Engineered Quality LLC (TEQ), Plastique Ltd. and Plastique sp. z o.o. to Sonoco Plastics, Inc. and Sonoco Holdings, Inc., subsidiaries of Sonoco Products Company (NYSE: SON), a global manufacturer of industrial and consumer packaging products headquartered in Hartsville, South Carolina.
The Company expects to finalize the transaction upon receipt of certain customary regulatory approvals with expected gross... More
November 18, 2019 4:11 PM EST
Sonoco (NYSE: SON), one of the most sustainable, diversified global packaging companies, today announced it has signed a definitive agreement to acquire Thermoform Engineered Quality, LLC, and Plastique Holdings, LTD, (together TEQ), a global manufacturer of thermoformed packaging serving healthcare, medical device and consumer markets, from ESCO Technologies, Inc. (NYSE: ESE) for approximately $187 million in cash.
TEQ, headquartered in Huntley, Ill., produced sales of $88 million in the fiscal year ended September 30, 2018, and operates three thermoforming and extrusion facilities in the United States along with a thermoforming... More
