Alfa Laval acquires Aalborg Industries
MARITIME INDUSTRY: Alfa Laval – a world leader in heat transfer, centrifugal separation and fluid handling – has signed an agreement to acquire Aalborg Industries Holding A/S for a total cash consideration of 5 billion Swedish kroner.
“Aalborg Industries is an excellent fit and I’m very pleased to welcome a strong and well-run company into Alfa Laval”, says Lars Renström, President and CEO of the Alfa Laval Group.
“Aalborg Industries complements our offering of energy-efficient and environmental solutions. It represents a significant business opportunity as it not only supports the development of our offering to the marine and off-shore markets but also means we can introduce their product offering to new industrial end markets and customers.”
Aalborg Industries has some 2,600 employees and is expected to generate sales of about 3.3 billion Swedish kroner in 2010. The acquisition will be accretive to EPS from 2011. The closing of the transaction is subject to clearance from regulatory authorities.
Headquartered in Aalborg, Denmark, the company is a leading provider of critical products, systems and service solutions, today mainly to the marine and off-shore markets, but it also has an increasing exposure to the power industry as well as to other industrial end markets. Its offering includes boiler systems, thermal fluid systems, waste heat recovery systems and inert gas systems. The company complements and further strengthens Alfa Laval’s leading global position, by adding a strong product offering that focuses on energy efficiency. As a result, meaningful top and bottom line synergies are expected to be derived from this combination.
With the acquisition of Aalborg Industries, Alfa Laval will further strengthen its offer in heat transfer. It will add market-leading positions in attractive market segments, including boilers and thermal fluid systems, as well as inert gas systems, with significant barriers to entry. These include extensive certification processes, a strong innovation track record and a global service network. The company’s strong manufacturing and engineering presence in fast-growing markets such as China, Vietnam and Brazil, as well as the aftermarket potential generated by a large installed base, are highly attractive attributes.
Source; Alfa Laval / maritimedanmark.dk
