Wajax makes key acquisition

Article Excerpt

WAJAX CORP., $28.37, is a buy. The company (Toronto symbol WJX; TSINetwork Rating: Extra Risk) (www.wajax.ca; Shares o/s: 21.5 million; Market cap: $610.0 million; Yield: 4.5%) is now acquiring Sault Ste. Marie, Ontario-based Beta Fluid Power Ltd. and Beta Industrial Ltd. The purchase price has not yet been disclosed. Beta Fluid is a leading regional supplier of hydraulic and pneumatic equipment for use in the industrial, mining and construction sectors. It also offers hydraulic and pneumatic maintenance, repair and replacement services, including mobile services. Beta Industrial provides a wide range of on-site facility repair and maintenance services. Wajax Corp. is a buy. buy. …