Guelph, Ontario, Dec. 3, 2007 — Hammond Power Solutions Inc. (HPS) announced that it has signed a definitive agreement with Delta Group XFO Inc. and Delta Transformer of Canada (1999) Ltd. (collectively, the Delta Group) to acquire all of the Delta Group’s assets used by and in connection with the Delta Group’s transformer business.
Delta Group’s transformer business is involved in the design and manufacture of standard and custom dry type distribution and power transformers. Annual sales revenues approximate $40 million.
The deal is expected to close in mid January, 2008 following receipt of Toronto Stock Exchange approval and completion of due diligence.
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