RTTNews | Mar 4, 2021 07:04AM EST

07:04 Thursday, March 4, 2021 (RTTNews.com) - Technology company Colfax Corp. (CFX) on Thursday said it plans to separate its fabrication technology and specialty medical technology businesses into two stand-alone, independent and publicly-traded companies. This, according to Colfax, will increase operational flexibility and improve focus on the independent entities.

The separation will be conducted in a tax-free manner and is expected to be completed by the first quarter of 2022.

The specialty medical technology company, to be renamed after separation, will be headed by Colfax Chief Executive Officer Matt Trerotola, while Colfax EVP Brady Shirley will be the Chief Operating Officer.

The company will have its headquarters in Wilmington, Delaware with a large presence in Dallas, Texas.

The fabrication technology company, which will continue functioning under its brand name ESAB, will be headed by current Colfax EVP Shyam Kambeyanda, who will join the FabTech Board. The company will remain headquartered in Maryland.

Read the original article on RTTNews ( https://www.rttnews.com/3174918/colfax-to-separate-fabtech-medtech-businesses-into-independent-companies-quick-facts.aspx)

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