Saet’s locations complement our Ajax Tocco locations with tremendous synergies. We believe that we are building a business that will be the clear leader in induction heating capabilities worldwide.” ...

ParkOhio (NASDAQ: PKOH) of Cleveland said it signed an agreement with Star Capital of Milan, Italy and other minority shareholders to buy Saet S.p.A in Turin, Italy for about $22.9 million in cash.

Induction heating is a non-contact method for the rapid, efficient, precise, and repeatable heating of metals or other electrically conductive materials. An induction heating system comprises a power ...