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The Purchase: Acquisitions
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Tecumseh Products Company (NASDAQ: TECUA)(NASDAQ: TECUB) today announced that it has entered into an agreement with Invensys plc to purchase its electric motors operations, commonly known as FASCO Motors. "The acquisition of FASCO is a key step in revitalizing the growth of Tecumseh Products Company and is a good strategic fit with the Company's Mission of designing and manufacturing products that improve the human condition," stated Todd Herrick, CEO.
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Hilb, Rogal & Hobbs Company, an insurance broker headquartered in Richmond, purchased the stock of Frank F. Haack & Associates Inc., a Wisconsin-based insurance brokerage with revenue of $22 million. Terms of the acquisition (Business Wire, 9/1/04)
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