Hammond Power Solutions To Acquire Transformer Business

Hammond Power Solutions (HPS) has entered into an agreement to acquire the transformer business of the Delta Group of Granby, Quebec.

Delta, with estimated sales in 2007 of $40 million, builds power and distribution transformers for the Canadian market. HPS said the acquisition offers an opportunity to immediately expand its market share in Canada as well as provide additional manufacturing capacity moving forward.

This deal is expected to close on Jan. 7, 2008, following approval by the Toronto Stock Exchange and completion of detailed due diligence of the Delta business.