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The Eastern Company (the "Company") (NASDAQ:EML), an industrial manufacturer of unique engineered solutions serving commercial transportation, logistics, and other industrial markets, today announced that the Company has acquired certain assets of Sureflex, Inc. ("Sureflex"). The Company did not disclose the terms of the transaction.
Sureflex, which manufactures tractor-trailer electrical connection cable assemblies, will be part of Eastern's Velvac subsidiary. According to Mr. Dan McGrew, Velvac, Inc.'s President, "The acquisition of Sureflex enables Velvac to manufacture electrical products and become cost/quality competitive."
Mr. Mark Hernandez, the Company's President and CEO added that "this transaction further reduces our cost profile and reflects our commitment to improving our operating performance and efficiencies of our production facilities. This strategic acquisition continues part of Eastern's continued growth strategy."
Posted In: EML
