Insteel Industries (IIIN) said late Monday that its unit, Insteel Wire Products, has acquired Engineered Wire Products, a maker of welded wire reinforcement products for construction, for $70 million in an asset transaction.
Insteel Industries said it has funded the deal with cash on hand.
Shares of the company were down 5% in recent premarket activity on Tuesday.
Price: 25.71, Change: -1.20, Percent Change: -4.46
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