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BRIEF-Eastern to acquire Velvac for $39.5 mln

April 4 Eastern Co

* Eastern announces the acquisition of Velvac

* Eastern CO - deal for $39.5 million plus future earnout based on growth of velvac's road-iq(tm) business

* Eastern - transaction expected to be breakeven including purchase accounting expenses but before one-time transaction costs, in current fiscal year

* Eastern co - Velvac will become an independent subsidiary of eastern company

* Eastern co - transaction is expected to be accretive to earnings in fiscal 2018

* Eastern co - Jeff Porter, Velvac's president and ceo, will continue to lead business Source text for Eikon: Further company coverage:

我们的标准: 汤森路透“信任原则

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