Wajax expands further in Ontario

Article Excerpt

WAJAX CORP., $23.91, is a buy. The company (Toronto symbol WJX; TSINetwork Rating: Extra Risk) (www.wajax.ca; Shares o/s: 21.4 million; Market cap: $512.4 million; Yield: 4.2%) is buying Ontario-based Process Flow Systems. The price is $3.96 million, plus a three-year performance-based payout of up to $650,000. Process Flow is a specialist provider and integrator of industrial process pumps, valves, and monitoring and control systems. Wajax believes that Process Flow brings long-established customer and supplier relationships, and a team highly regarded for their technical expertise and customer service. As well, Process Flow will enhance its industrial process offerings for customers in Ontario. Wajax Corp. is a buy. buy…