Protex to buy WEC for $25.4B
The merger is expected to close in the third quarter of 2019.
It will be the second merger between the two companies in a decade.
Protex will now have 1,100 employees at its North Texas operations, with about 500 in North Carolina.
The merged company will operate its operations across the state.
The merger was first announced in September 2016 and is expected by analysts to close by the end of the year.
The deal is expected in 2019.
Protex said in a statement to CBS News on Thursday that it is working with WEC to build a new global network for its customers.
WEC’s new services will help Protex increase its network reach and drive its revenue growth, the company said.
The WEC deal is not expected to affect WEC as it continues to operate in North America.
Wec has been a pioneer in the automotive and industrial services sector, which has grown by nearly a third over the past 10 years, according to data from the U.S. Department of Commerce.
For its part, Protex has said that it intends to expand its operations in North and Central America.
It is also a major beneficiary of the merger, which is expected give it greater leverage in negotiations with suppliers in its home market of North America and other parts of the world.
While the deal could help WEC in some areas, it also will require Protex’s continued support in some markets.
WEC’s parent company, Procter & Gamble Co., has struggled to compete with Amazon.com Inc., which has a larger market share than Protex.
In the first quarter of 2020, Proton had $1.05 billion in revenue.
WRC, the parent company of Protex, had $2.15 billion in total revenue.
Meanwhile, the merger has been seen as a way for WEC and its parent to consolidate its operations and expand its workforce in North American.