Spirax-Sarco buys 51% stake in Spirax-Sarco Mexicana

25th May 2010 15:14

Spirax-Sarco Engineering announced that it has acquired the remaining 51% stake in its Mexican operating company, Spirax-Sarco Mexicana, from its local partners for £10.7m.The consideration will be settled in instalments over an expected five year period from existing resources. It is anticipated that the business will have net cash balances in excess of £1m at closing.