MagneGas Corporation has executed a binding agreement to acquire all of the assets of San Diego based NG Enterprises Inc. for $750,000.
The acquisition is expected to add approximately $650,000 in high-margin industrial gas and welding supply revenues. The acquisition also adds four highly experienced industry experts, and enables access to an extensive list of clients in the shipping, military, logistics, industrial and other industries, which represent prospective clients for MagneGas2® cross sales.
The binding agreement, includes a deposit for $300,000. The remainder of the purchase price is due at final closing, which is planned for the second week of January 2018.
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