Illinois Tool buys Quasar International |
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Published
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Mon, 12 Mar 2007 15:57
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ALBUQUERQUE, N.M. (AP) - Engineered components and equipment maker Illinois Tool Works Inc. said Monday it bought Quasar International Inc. for an undisclosed sum.Albuquerque, N.M.-based Quasar is the inventor of process compensated resonant testing, a new nondestructive test method, Illinois Tool said.Quasar will continue to operate as an independent company and be associated with Magnaflux, an Illinois Tool division that supplies magnetic particle and dye penetrant inspection equipment, along with the associated chemical products.Quasar operations in Albuquerque and Detroit will remain essentially unchanged, and existing distribution and customer agreements will not be affected, Illinois Tool said.Illinois Tools shares fell 20 cents to $50.68 in morning trading on the New York Stock Exchange.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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