Fairbanks Morse Defense (FMD) on Monday announced it closed on the acquisition of the U.K.-based valve maker Truflo Marine and argued it is strengthening the industrial base for allied navies. IMI plc was the former owning party and had said the acquisition was valued at $302 million and the process closed on Friday. The acquisition includes Truflo’s Birmingham, U.K., facility and its about 270 employees. In its announcement, FMD said this increase to its engineering and manufacturing base will enhance…
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