Topic: How To Invest

Stock Pickers Digest Hotline – Friday, October 19, 2018

Article Excerpt

WAJAX CORP., $24.22, symbol WJX on Toronto, sells and services cranes, forklifts and other heavy equipment. It also provides related parts and systems such as ball bearings, hoses, diesel engines and transmissions. Wajax’s customers are spread across the resources, construction, manufacturing and transportation industries. The company has now announced the acquisition of Montreal, Québec-based Groupe Delom Inc. for $51.8 million (with $2.0 million of the purchase price dependent on meeting certain performance targets). Founded in 1963, Delom specializes in the maintenance and repair of electromechanical and rotating equipment for continuous-process industries. It serves customers in diverse end-markets, including hydroelectric, wind and nuclear power generation, mining, pulp and paper, petrochemical, aluminium smelting, and rail and marine transportation. Delom has six branches across Eastern Canada and employs more than 350 people. The acquisition is expected to add between $0.10 and $0.15 to the company’s annual per-share earnings, starting in 2019. OUR RECOMMENDATION: Wajax Corp. is still a buy. Wajax recent coverage Hotline for August 17, 2018 August 2018…

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.