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April 7, 1998 | Bloomberg News
Unova Inc. said it will buy R&B Machine Tool Co. as it expands its machining centers. The Beverly Hills-based industrial technologies company said the purchase will boost earnings by $60 million within a year. The addition of R&B "is part of our strategy to expand our capabilities further into the market for small- and medium-volume machining centers," said Unova Vice President Clayton A. Williams. Saline, Mich.-based R&B would be combined with Unova's Industrial Automation Systems division.
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BUSINESS
April 7, 1998 | Bloomberg News
Unova Inc. said it will buy R&B Machine Tool Co. as it expands its machining centers. The Beverly Hills-based industrial technologies company said the purchase will boost earnings by $60 million within a year. The addition of R&B "is part of our strategy to expand our capabilities further into the market for small- and medium-volume machining centers," said Unova Vice President Clayton A. Williams. Saline, Mich.-based R&B would be combined with Unova's Industrial Automation Systems division.
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BUSINESS
August 22, 1998 | From Bloomberg News
Unova Inc., maker of machine tools and automobile manufacturing systems, agreed to buy Cincinnati Milacron Inc.'s tool unit for $178 million in cash to expand its sales beyond the auto industry. Beverly Hills-based Unova, which was spun off from Western Atlas Inc. last October, said the acquisition will add about $500 million in annual sales to its industrial automation systems unit, bringing the company's total sales to nearly $2.5 billion in 1999.
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