Unova Inc., Beverly Hills, has signed a definitive agreement to acquire Cincinnati Milacron's machine-tool operations. Unova rely upons to pay approximately $178 million in cash in a debt-free transaction, which should be finalized in October.
According to Alton J Brann, chairman and CEO of Unova, the recently made known entity, to be called Cincinnati Machine - A Unova Co will operate as a separate division within Unova's industrial sector. Concerning the move Brann says, "Operationally, little will change." He also indicated that the division will remain at its
