Nordson Buys EDI Holdings
By: Leon Castles
on Monday, May 21, 2012
The business market today is not just about competition but about taking over companies that can allow you to grow in the future. Nordson Corp., which produces automated spraying equipment, has now made an announcement that they will buy EDI Holdings Inc for $200 million. EDI Holdings Inc is a company based in Wisconsin that produces flat polymer extrusion dies for plastic processors. Nordson Corp made an announcement that the company currently has $500 million under credit revolving facility that they will use to finance the deal. The company also said that the deal will close in the third quarter of 2012.
Nordson Corp said that they were interested in looking for better acquisition deals that can help them grow in the future. EDI Holdings Inc already has 317 employees working in various locations like Germany and China. When the deal is complete EDI Holdings will be rename as Nordson’s Adhesive Dispensing Systems unit. Nordson CEO and President, Michael Hilton said that EDI participates in global plastic processing equipment industry which fits their portfolio and will help them to grow over a period of time. He also said that they are looking for more acquisitions that can help them to achieve long term growth and market stability and where they can provide better equipments to their customers.