Hillenbrand, Inc. (NYSE: HI), a global diversified industrial company that makes and sells premium business-to-business products and services for a wide variety of industries, reported third quarter sales of $447 million, flat compared to the prior year. Profit fell 15.3% to $30.4 million.
For the first nine months, sales grew 2% to $1.3 billion. Profit was $96.7 million, compared to $32.1 million during the same period in 2018.
In July, the company agreed to acquire privately held Coperion Capital GmbH, a portfolio company of Deutsche Beteiligungs AG. The transaction is estimated at €408 million (US$530 million) and is expected to close in December or January, depending upon satisfaction of certain conditions, including receipt of applicable regulatory approvals.