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8-K - LIVE FILING - NORDSON CORP | htm_45141.htm |
Nordson Corporation
28601 Clemens Road
Westlake, Ohio 44145 USA
FOR RELEASE: CONTACT: |
Immediately James R. Jaye Director, Communications & Investor Relations 440.414.5639 |
Jim.Jaye@nordson.com
Nordson Corporation Enters Agreement to Acquire EDI Holdings, Inc.
| Leading producer of extrusion dies and related equipment expands Nordson offering to global flexible packaging and plastic processing markets |
Westlake, Ohio, USA May 21, 2012 Nordson Corporation (Nasdaq: NDSN) today announced it has entered into a definitive agreement to acquire Chippewa Falls, Wisconsin-based EDI Holdings, Inc. (Extrusion Die Industries), a leading provider of slot coating and flat polymer extrusion dies for plastic processors and web converters. The $200 million purchase price, subject to adjustment as provided in the purchase agreement, will be financed with availability under an existing $500 million revolving credit facility. The transaction is expected to close during Nordsons third quarter pending customary closing conditions and regulatory reviews.
EDI employs approximately 317 people, has additional operations in Cologne, Germany and Shanghai, China, and will operate as part of Nordsons Adhesive Dispensing Systems segment. EDIs operations include its March 2012 acquisition of Premier Dies Corporation, a complementary provider of slot coating and flat polymer extrusion dies that expands EDIs product and technology offering. Nordson expects the acquisition of EDI to be accretive to the companys earnings in the first full year of operation.
EDI participates in the large and growing global plastics processing equipment industry, and
is a clear fit with our strategy of acquiring companies that provide differentiated precision
technology at a key part in the supply chain to deliver profitable long-term growth, said
Nordson President and CEO Michael F. Hilton. Much like Nordson, EDI provides industry-leading
products that are critical enabling technologies for end users to optimize productivity and
uptime, yet these products are a relatively small portion of the total extrusion systems and
coating lines on which they operate. EDIs strong customer relationships and installed
product base also provides multiple recurring revenue opportunities, including upgrades,
replacements, or maintenance to existing products.
In addition, EDI complements Nordsons existing extrusion die product line, providing scale,
product breadth and geographic reach to the Verbruggen platform.
EDI serves a wide range of customers, from Fortune 500 companies to custom plastics processors to extrusion equipment OEMs, who use the companys custom-designed proprietary extrusion dies, feedblocks and auxiliary equipment to efficiently produce complex polymer products, from multi-layer barrier films for food and beverage flexible packaging to micron-scale coatings for flat panel displays to critical separator films for next-generation batteries. The production of high quality sheets, films and coatings for these applications increasingly requires EDIs sophisticated processing equipment to control flow rates, thickness and other essential surface characteristics. EDI also provides value-added services such as equipment re-manufacturing, process labs for customers to run pilot tests on new products, and technical support contracts to consult with customers on enhancing productivity and improving uptime.
Nordson Corporation delivers precision technology solutions that help customers increase throughput, productivity and up-time, enable new products and features, and decrease material usage. The company engineers, manufactures and markets differentiated products and systems used for dispensing adhesives, coatings, sealants, biomaterials and other materials, fluid management, test and inspection, UV curing and plasma surface treatment, all supported by application expertise and direct global sales and service. Nordson serves a wide variety of consumer non-durable, durable and technology end markets including packaging, nonwovens, electronics, medical, appliances, energy, transportation, construction, and general product assembly and finishing. Founded in 1954 and headquartered in Westlake, Ohio, the company has operations and support offices in more than 30 countries. Visit Nordson on the web at www.nordson.com, www.twitter.com/NordsonCorp or www.facebook.com/nordson.
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