PROXY CORNER: Hillenbrand Inc.
Hillenbrand Inc. operates Batesville Casket, which sells burial caskets and other death-care products. Hillenbrand also operates K-Tron International, which makes material-handling equipment and systems.
Hillenbrand Inc. operates Batesville Casket, which sells burial caskets and other death-care products. Hillenbrand also operates K-Tron International, which makes material-handling equipment and systems.
Batesville-based casket manufacturer Hillenbrand Inc. said Wednesday that its fiscal first-quarter profit fell 8 percent as an increase in sales was offset by higher costs.
The U.S. International Trade Commission said Monday that Ataudes Aguilares will be barred from bringing in caskets with attached memorabilia compartments, which Batesville-based Hillenbrand has patented.
Excluding acquisition costs, the Batesville-based maker of caskets exceeded Wall Street forecasts with earnings of $28.1 million.
Hillenbrand Inc.’s Batesville unit, the largest U.S. maker of coffins,wants the trade commission to prevent Ataudes Aguilares
from selling its products in the United States and Puerto Rico.
K-Tron will become a unit of the Batesville company. K-Tron shareholders received about $150 per share in cash for their common
stock in the deal, which was announced in January.
The Batesville holding company said it will purchase K-Tron International Inc. in New Jersey for about $435 million, including
$45 million in K-Tron debt and cash on hand. The deal is expected to close by the end of March.