Westinghouse to Buy Knoll International
Westinghouse Electric Corp. said it has agreed to buy Knoll International Inc. for stock, making the electric company one of the top three makers of office furniture in the world.
Terms of the deal were not disclosed.
“Knoll’s commanding European presence in all eight Common Market countries will help establish Westinghouse as a leading designer and manufacturer of office furniture systems worldwide,” Westinghouse Chairman Paul E. Lego said in a statement.
Knoll, a privately held company, designs, makes and sells modular office systems, desks, chairs and office accessories. It has about 2,800 employees.
Under the agreement, Westinghouse will acquire the company’s headquarters in New York.
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