Avingtrans buys US nuclear-engineering designs for $2.5 million
Avingtrans ($AVG) has acquired the intellectual property, trading history and brand of Joseph Oat Corporation for $2.5 million in cash. The US nuclear-engineering specialist supplied critical equipment with a substantial installed base that can generate service and replacement work. The transaction follows the planned retirement of the seller’s owners and complements Avingtrans’ Hayward Tyler and Energy Steel operations. Owning original designs should help the group supply replacement components
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