Financial details were not disclosed. According to Davis-Standard, the acquisition is part of the company's strategy to further expand its global extrusion and converting systems businesses. Under the new ownership structure, Davis-Standard's management will remain in place. As part of the transition, Charlie Buckley, 66, will move from CEO to Chairman, with Robert Preston joining the company as its new CEO. Hamilton Robinson's involvement with the business dates back to 2003 with the acquisition of Black Clawson Converting Machinery, which later merged with Davis-Standard in 2005.