A Richards-Wilcox management team has completed the purchase of all outstanding stock from its parent Dexion Group. The Norwegian-based Dexion is the world's ninth largest supplier of materials handling systems with more than $350 million in revenue, according to Modern Materials Handling.

"The management team is committed to making Richards-Wilcox a more innovative and successful company," says Manfred Haiderer, CEO and president. The company supplies overhead conveyor equipment as well as horizontal and vertical carousels and vertical lift modules.