CHARLOTTE, N.C.—Acquisitions made by two EnPro Industries Inc. subsidiaries in separate transactions will allow the businesses to expand their operations.
The remaining interest in joint venture Stemco Crewson L.L.C., formed in 2009, was purchased by subsidiary Stemco L.P. from Tramec L.L.C., while in another transaction Garlock Taiwan Corp. bought Strong-Tight Co. Ltd.
Financial details were not released.
Acquiring the remaining interest in the joint venture, a producer of automatic brake adjusters, will allow Stemco to accelerate its investment in new product development and gain new market share, the company said.
Adding Strong-Tight, a maker of gaskets and industrial sealing products, to the fold gives the business an established Asian marketing presence and manufacturing facilities from which the Garlock family of companies can serve the Asian market, it said.