Nordson To Sell Screws And Barrels Product Line To Altair

(RTTNews) - Nordson Corp. (NDSN) agreed to divest the screws and barrels product line from its polymer processing systems division to Altair Investments.

The global product line generated more than $70 million in annual revenue with 500 employees. It has been reported in Nordson's Industrial Precision Solutions segment.

The companies anticipate closing the transaction in the first quarter of fiscal 2021.

According to the company, the strategic portfolio transaction will improve the company's ongoing earnings and require a one-time, non-cash asset impairment charge of about $87 million.