Rotork buys South Korean firm
Rotork, which makes valve controls and actuators for oil and gas, water, power and nuclear plants, said yesterday that full-year adjusted operating profit rose 8.5 per cent due mainly to acquisitions.
The company also said it had agreed to buy Young Tech Co (YTC), a South Korean manufacturer and supplier of valve positioners, for £64m. Rotork will fund its purchase of YTC from its own cash pile and existing bank facilities. Rotork shares rose 5.6 per cent yesterday.