WDBJ7 Web Staff
2:39 PM PDT, April 9, 2013
A Blacksburg company announced Tuesday that it has bought a company located in Radford.
Moog, which has three locations in Blacksburg, has acquired Aspen Motion Technologies, which is based in Radford. According to a news release from Moog, the purchase price is $34 million in cash.
Aspen is a subsidiary of Pentair. The company makes parts for motors. It was founded in 1996.
“The addition of the Aspen products fills a product and technology gap for our existing customer base,” Larry Ball, president of Moog Components Group, wrote in a news release. “Their engineering and manufacturing expertise not only brings us new opportunities, but also a number of valued customers that will add to our existing base.”
Moog makes parts that control planes, satellites, and space vehicles.
A Moog spokesperson says there are not any plans to change employment levels at the Blacksburg or Radford operations.