Expansion of engineering activity in the US
Carr’s Group has acquired US-based NuVision Engineering for a total cash consideration of up to US$20m (£15.4m). The transaction is immediately earnings enhancing. Importantly, it gives German-based Wälischmiller, which is part of the Carr’s Group Engineering division, greatly enhanced access to the US nuclear market. We raise our FY18 and FY19 estimates and revise our indicative valuation from 158p/share to 163p/share.Carr's Group operates across the agriculture and engineering sectors which supplies products and services to countries around the world. Co.'s agriculture division includes an international feed block supplement business, and in the U.K., this division also sells animal feed, fertilizer, animal health products, fuel, farm machinery and rural supplies. Co.'s engineering division designs, manufactures and supplies precision parts, equipment, robotics and remote handling products. These products and services are supplied primarily into the nuclear, defense and oil and gas markets.
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