Rutter sells controls and automation business to Rockwell Automation and restructures term loans

On March 31, 2009, Rutter Inc. (TSX: RUT) announced that it had closed the sale of its controls and automation business to Rockwell Automation, Inc. (NYSE: ROK). The sale involved most of the assets of Rutter's wholly owned subsidiary, Rutter Hinz Inc. and its U.S. affiliate Rutter Hinz, Inc. to Rockwell's subsidiaries ICS Triplex IsaGRAF Inc. and ICS Triplex, Inc. In conjunction with the sale, Rutter also completed the restructuring of its term loans with its lender, Crown Capital Partners Inc.

Rutter was advised in this sale by external counsel, including Bozidar Crnatovic of Fasken Martineau.