The 2020 Mid-Year Economic Update_long

Snap-on Acquires Norbar Torque Tools

Acquisition expands Snap-on's existing torque offerings to critical industries.

Tool manufacturer Snap-on Inc. (NYSE: SNA), Kenosha, WI, has acquired Norbar Torque Tools Holdings Limited along with its U.S. and Chinese joint ventures for $72 million.

Based in Banbury, United Kingdom, with annual sales of $41 million, Norbar is a manufacturer of torque products and has a strong presence in critical industries, including power generation, oil & gas, mining and railroad. The acquisition of Norbar, which will be part of the company’s Commercial & Industrial Group, expands Snap-on’s existing torque offering to critical industries, particularly in powered torque products.

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