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April 2, 1997updated 05 Sep 2016 12:44pm


By CBR Staff Writer

Nematron Corp announced Tuesday it has completed its previously announced (CI No 3,114) acquisition of Intec Controls Corp in exchange for up to 600,000 shares of Nematron common stock and warrants to purchase 125,000 more. Nematron says the final number of shares involved will be determined after looking at an average of recent stock prices. Nematron closed at $5.50 on Tuesday in New York. The Intec acquisition also allows Nematron to improve its European presence, with the former Intec facility in the UK becoming Nematron’s new European headquarters. Its non-profitable office in the Netherlands will be immediately liquidated.

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