International technology group Andritz signed a contract for the acquisition of Asko Inc., a family-owned company headquartered in Homestead, Pa. Asko manufactures a wide range of shear knives, blades, liners, wear plates and accessories for the metals-producing, metals-processing and recycling industries. For Andritz, the acquisition further complements its service offerings for the metals industry. Founded in 1933, Asko has approximately 140 employees and delivers its products from four locations: Homestead, Pa.; Rock Hill, S.C.; South Holland, Ill.; and Amsterdam, Netherlands.
The acquisition is subject to the satisfaction of customary closing conditions, including applicable regulatory approvals. Closing is expected in the third quarter of 2018.