Hollysys (HOLI) Finalizes CCPL Acquisition for $43.2M
Hollysys Automation Technologies Ltd., provider of automation and control technologies and applications in China, today announced it has completed its acquisition of Concord Corporation Pte Ltd. and its group of companies (CCPL) for approximately $43.2 million. Headquartered in Singapore, CCPL provides electrification related services to rail and industrial industrials in South-East Asia and the Middle East. Hollysys said it expects the acquisition to generate increased cross selling of its existing product lines in CCPL’s target markets. "We are very pleased to have closed the acquisition of CCPL. The seasoned and high-caliber management team will remain intact, and the daily operation…