Company buys Maine maker of aviation oxygen systems

Aerox, a Limington company that designs and manufactures aviation oxygen systems, has been purchased by Shaw Development of Florida.

Kevin Hawkesworth, president and chief executive officer of Shaw Development, said the purchase provides a complement to his company’s current focus on products for managing fuel and fluid systems in heavy duty commercial and military ground vehicles.

Hawkesworth also said the deal will mean that Aerox products can be marketed by a larger sales team and the purchase will provide Aerox with more resources for growth.

Terms of the purchase were not disclosed.

Average mortgage rates dip again, now below 4 percent

Average U.S. mortgage rates tumbled this week. The 30-year loan hit its lowest level since June 2013 as Treasury bond yields marked new lows amid concern over global economic weakness.

It was the fourth straight week of declines for mortgage rates, making it more affordable to borrow to buy a home.

Mortgage company Freddie Mac said Thursday that the nationwide average for a 30-year loan dipped to 3.97 percent from 4.12 percent last week. The average for a 15-year mortgage, a popular choice for people who are refinancing, fell to 3.18 percent from 3.30 percent.

– From staff and news services

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