Moog Inc. has completed the $48.6 million acquisition of Moog Controls Inc. from International Motion Controls, the Elma controls manufacturer said today.
The purchase of the servovalve manufacturer brings Moog Controls full circle. The firm was formed in 1988 when Moog Inc. exchanged its U.S. Industrial Division for stock held by William Moog, Moog Inc.'s founder.
Moog Inc., which in a separate transaction purchased Moog Controls' unused, 103,000-square-foot manufacturing facility, has placed the Town of Orchard Park building on the market.
The company expects Moog Controls to contribute to earnings immediately.