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Duravant Moves on $175M Acquisition of Key Technology

January 25, 2018

Global engineered equipment and automation solutions provider Duravant LLC recently signed a definitive agreement to purchase digital sorting, inspection, conveying, and processing equipment manufacturer Key Technology Inc., a press release issued jointly by the firms Thursday announced.

“The transaction brings together two global engineered equipment leaders and significantly extends Duravant’s reach across food processing with new complementary products and applications,” the release said.

Key Technology’s Board of Directors unanimously approved Duravant’s cash offer to acquire all outstanding shares of the firm’s stock. The firms said the value of the deal is $175 million.

Headquartered in Walla Walla, WA, Key Technology produces advanced automation systems for food processing and other end uses, optical inspection and digital sortation systems, vibratory conveyors, as well as process and preparation systems.

Duravant provides end-to-end process solutions in more than 190 countries globally.

“The combined global infrastructure of Duravant and Key will also help us advance our commitment to increased geographic market and new application penetration,” Key Technology’s president and chief executive officer Jack Ehren said in a statement.

The companies said they expect the transaction to close in the first quarter of 2018.

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