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Previously announced sale of Fisk Alloy does not go through, Covid-19 cited

Fisk Alloy, which in February announced that it has agreed to be acquired by Thermo Technologies of France, announced that the deal will not go through.

A press release said that the acquisition, which included the customary stipulation that it was pending due diligence and other conditions, was undone by Covid-19. “With the impact of Covid-19 on countries, markets, businesses and people worldwide, Fisk and Thermo Technologies have mutually and amicably come to the conclusion that now is not a good time to combine the companies. Hence, Fisk Alloy will not be acquired by Thermo Technologies,” Fisk Alloy CEO Erik Fisk said in a statement. “Our company will continue independently operating as we have for the past 46 years here in Hawthorne, New Jersey, with the same excellent solutions and service you’ve come to expect.”

Addressing customers, Fisk wrote, “For the years prior and for the moment at hand, thank you for your business and your understanding through what has been a most difficult time for everyone and everything.”

Founded in 1973 by John Fisk as a producer of high-quality copper alloy wire, the company today offers unique proprietary capabilities in high-performance alloy wire.

Read 657 times Last modified on June 12, 2020

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