The Eastern Company Acquires The Business And Certain Assets Of Sureflex, Inc.; Financial terms Not Disclosed
Portfolio Pulse from Happy Mohamed
The Eastern Company (NASDAQ:EML) has acquired certain assets of Sureflex, Inc., a manufacturer of tractor-trailer electrical connection cable assemblies. The financial terms of the transaction were not disclosed. Sureflex will become part of Eastern's Velvac subsidiary, enabling Velvac to manufacture electrical products and become cost/quality competitive.
June 29, 2023 | 8:42 pm
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POSITIVE IMPACT
The acquisition of Sureflex's assets by The Eastern Company could potentially enhance the manufacturing capabilities of its Velvac subsidiary, making it more cost/quality competitive.
The acquisition of Sureflex's assets could potentially enhance the manufacturing capabilities of Eastern's Velvac subsidiary, making it more cost/quality competitive. This could lead to improved operating performance and efficiencies, which could positively impact EML's stock in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100