WASHINGTON (dpa-AFX) - Snap-on Inc. (SNA), a manufacturer of tools, diagnostics, and systems solutions, on Tuesday announced that it has acquired Mountz, Inc. for $40 million in an all-cash transaction.
Mountz is a developer of high-precision torque tools and the company believes this acquisition complements and expands Snap-on's torque offerings to customers in a variety of industries including aerospace, transportation, and advanced manufacturing.
On Monday, Snap-on shares closed at $268.96, down 0.70% on the New York Stock Exchange.
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