LONDON, September 27, 2011 /PRNewswire/ --
W J Morray Engineering, which sells agricultural and industrial machinery under the Walthambury and Bel-Tyne brands, has been acquired by Park Precision Limited for an undisclosed sum.
Park Precision has bought the assets of Morray and intends to build on the strong brands with the backing of Park's reputation for high quality and innovation.
Richard Archer, Director of Park, said, "This is an excellent strategic acquisition for Park. Morray, Walthambury and Bel-Tyne are all strong brand names and have an excellent reputation in the automated bagging and palletising sector which we look forward to building on now it is part of the Park group."
Ben Edwards, Director of Park, said "We look forward to applying Park's design and manufacturing techniques to further innovate the market leading products already produced by Morray. This is an exciting time for Park and we look forward to meeting with Morray's loyal customer base very shortly."
For further information, please call Richard Archer or Ben Edwards on 01305 778 420.
Morray was established in 1965 and specialises in industrial automation, agricultural bagging and conveying systems including the installation of bespoke packing lines and robot palletisers with an annual turnover of £3 million. Morray was acquired by Park on 26th July 2011.
Park was established in 1986 and provides contract manufacturing services for various sectors of industry including subsea, defence, printing, electronic, food and renewable energy.
In 2010 Park was acquired as part of a management buyout by two former Park apprentices funded by Valco Capital Partners. This young but experienced team have spent a combined 30 years with the company.
Contact: Richard Archer and Ben Edwards +44(0)1305-778-420
SOURCE Park Precision