Cash Technologies Acquires Tomco Auto Products - aftermarketNews

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Cash Technologies Acquires Tomco Auto Products

TAP Holdings, LLC, the majority-owned subsidiary of Cash Technologies, Inc., has completed its acquisition of certain assets and liabilities of Tomco Auto Products, a leading manufacturer of vehicular fuel system components.

aftermarketNews Staff
By aftermarketNews Staff
Published:

LOS ANGELES — TAP Holdings, LLC, the majority-owned subsidiary of Cash Technologies, Inc., has completed its acquisition of certain assets and liabilities of Tomco Auto Products, a leading manufacturer of vehicular fuel system components.

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The company acquired Tomco for $2.5 million. Cash Tech will recognize approximately $5.5 million in extraordinary (non-cash) income and a corresponding reduction in the company’s negative shareholders equity. As a result, the company expects to report a profit for the current fiscal quarter, which ends on Nov. 30.

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By Emma Henderson
Emma Henderson is the Managing Editor of aftermarketNews and Counterman. She joined Babcox after a career as a television reporter for stations across the Midwest. Contact her at [email protected]
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