DTI suspends negotiations on Irwin R&D acquisition

DT Industries announced Jan. 8 it has suspended negotiations for the acquisition of Irwin Research & Development Inc., a company based in Yakima, Wash.

The Springfield company three months ago announced it was exploring the possibility of acquiring the privately held designer, developer and manufacturer of thermoforming machines and related equipment used in the plastics processing industry.

"We have certain issues we have not been able to resolve," said Stephen J. Gore, president and chief executive officer. "We are not, however, ruling out the possiblity of reconsidering this transaction at a later date. In the meantime, the companies will continue working together on cross selling opportunities where it is mutually beneficial." The company released no further details on the suspension of negotiations.

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