Business News
Nordson Corporation Announces Divestiture of Graphic Arts UV Curing Business; Maintains Strong Position in Industrial UV Curing Markets
Tuesday 15. June 2010 - Nordson Corporation (Nasdaq: NDSN) today announced that it has entered into an agreement for the divestiture of its graphic arts related UV curing business to Baldwin Technology Company, Inc. of Shelton, Connecticut. The operating results and net assets of the divested business are immaterial to the consolidated results and financial position of Nordson. Terms of the deal were not disclosed.
The transaction does not affect Nordsons UV curing business related to industrial applications, where the company remains a market leader.
“From a strategic perspective, Nordson does not currently have a long-term focus on the end markets served by the graphic arts UV curing business,” said Nordson President and CEO Michael F. Hilton. “Exiting this business will allow Nordson to concentrate more fully on delivering value to our customers and shareholders through our core precision technology solutions.”
Nordsons UV curing business for graphic arts has approximately eighty employees and is headquartered in Slough, Berkshire, England with an additional office in Easton, Pennsylvania. The business also includes products sold under the Primarc and Horizon brand names. The business results were previously reported as part of Nordsons Advanced Technology Systems segment.