Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Royal Appliance to be acquired by TechTronic
Dec 17, 2002
 Printable format
 Email this Article
 Search

Royal Appliance Manufacturing Co., the maker of Dirt Devil vacuums and other cleaning appliances, said it agreed to be acquired by Hong Kong's TechTronic Industries Co. Ltd. for U.S. $105 million in cash. The agreement provides for Royal shareholders to receive $7.37 per share in cash.

Royal will operate as a wholly owned subsidiary of TechTronic, which already makes Ryobi power tools, Homelite lawn and garden equipment, and VAX floor care appliances. Michael Merriman, CEO of Royal, will continue to lead the subsidiary. The transaction is expected to close in March 2003. Royal's board of directors has unanimously approved the deal, and its two largest shareholders, who own about 31 percent of Royal's outstanding stock, have also approved it. (Reuters)

Back to Daily News

 

Daily News

...........................................................

Aug 29, 2014: Adaptive Frequency Drive Increases Trane Chiller Efficiency

Aug 29, 2014: Vitamix President Receives Entrepreneur of the Year Award

Aug 28, 2014: LG Heat Pump Clothes Dryer Earns Emerging Technology Award

Aug 28, 2014: Early Snowthrower Demand Boosts Toro Sales

Aug 27, 2014: Sustainability Standard Launched for Household Portable and Floor Care Appliances

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows