Rotork buys South Korean firm

Rotork will fund its purchase of YTC from its own cash pile and existing bank facilities
Rotork, which makes valve controls and actuators for oil and gas, water, power and nuclear plants, said yesterday that full-year adjusted operating profit rose 8.5 per cent due mainly to acquisitions.

The company also said it had agreed to buy Young Tech Co (YTC), a South Korean manufacturer and supplier of valve positioners, for £64m. Rotork will fund its purchase of YTC from its own cash pile and existing bank facilities. Rotork shares rose 5.6 per cent yesterday.