Tyco International Ltd (TYC.N) said on Tuesday it will purchase privately held Chemguard Inc, a maker of specialty foam and equipment used by firefighters, to expand its fire protection products segment. Terms were not disclosed and Tyco declined to provide Chemguard sales figures. The deal fits within the $500 to $600 million Tyco has estimated it will spend on bolt-on acquisitions over 12 months, Tyco spokesman Paul Fitzhenry said. Mansfield, Texas-based Chemguard, which specializes in chemicals to suppress flammable liquid and gas fires, but also provides equipment and training, employs about 150 workers. Tyco said the deal would close by the end of 2011.
Tyco International Ltd. (Tyco) is a diversified company, which provides security products and services, fire protection and detection products and services, valves and controls, and other industrial products. Shares of TYC traded higher by 47.15% or $-0.2539/share to $505545152.00. In the past year, the shares have traded as low as $3.05 and as high as $34.23. On average, 1112900895 shares of TYC exchange hands on a given day and today's volume is recorded at 5847160.
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