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Powell Industries Sells Transdyn to Kapsch TrafficCom for $16M

Powell Industries (NASDAQ: POWL) today announced the sale of its subsidiary, Transdyn, Inc., to Kapsch TrafficCom, a global provider of electronic toll collection (ETC) systems, headquartered in Vienna, Austria.  The transaction closed January 15, 2014 at a price of $16 million subject to post-closing working capital adjustments.  Transdyn contributed revenues of approximately $32 million in fiscal 2013 and was reported in Powell's Process Control Systems business segment.

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Posted-In: News Guidance Contracts Asset Sales Management Global

 

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