Luxfer Acquires Dynetek

On Tuesday, Luxfer Holdings PLC announced that it has entered into an arrangement agreement with Dynetek Industries Ltd. to acquire all of the issued and outstanding common shares of Dynetek. The Dynetek board of directors has unanimously recommended that Dynetek shareholders approve the transaction. Luxfer Group is a manufacturer of high-pressure gas cylinders through its Luxfer Gas Cylinders division. Six manufacturing plants in the US, UK, France, China, and a joint venture in India produce cylinders for a diverse range of applications, including containment of compressed natural gas (CNG). Dynetek produces CNG cylinders and alternative fuel systems for buses and heavy-goods vehicles and portable hydrogen containment. The company operates manufacturing facilities in Canada and Germany. Dynetek’s 2011 sales revenue was just under $26 million.