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Stock impact report

Spokane Valley builder of packaging equipment acquiring two others [Yahoo! Finance]

IDEX Corporation (IEX) 
Last idex corporation earnings: 4/23 04:02 pm Check Earnings Report
Company Research Source: Yahoo! Finance
Alliance Machine Systems International, 5303 E. Desmet Ave., is acquiring Systec Corporation, which has been building conveying equipment in Indianapolis since 1992; and Automatan, LLC, which has built laminators and labelers since 1976 in Plover, Wisconsin. Terms of the transaction were not disclosed and the merger is expected to be completed by the end of month, according to a news release. Alliance President Marius Batrin said in the release the the move marks "a significant milestone in our journey." "After years of successful collaboration, Alliance, Systec and Automatan have decided to become part of the same business structure. This acquisition is a pivotal step in enhancing our position as a comprehensive full-range solution provider for our customers," Batrin said. Alliance was formed in 2000, when Shreveport, Louisiana- based J&L Industries LLC purchased the assets of Spokane Valley-based Thermoguard Equipment Inc., and changed its name to Alliance Machine Systems L Show less Read more
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