Colfax To Acquire Siemens Turbomachinery Business
Resource from: Diesel and Gas Turbine Likes:343
Mar 09,2017
A Siemens Turbomachinery Equipment GmbH (STE) facility in Leipzig, Germany. Colfax Corp. announced that it will acquire STE from Siemens AG.
Colfax Corp., a global manufacturer of gas- and fluid-handling and fabrication technology products and services, announced that it has entered into a binding agreement to acquire Siemens Turbomachinery Equipment GmbH (STE) from Siemens AG for a cash consideration of approximately €195 million.
STE develops, produces and distributes single-stage compressors and small steam turbines for environmental and industrial applications. The acquisition will be integrated into Colfax’s Howden business platform, broadening Howden’s range of compression solutions and expanding its product offering into small steam turbines. STE also diversifies Howden’s served end-markets and increases its presence in applications with attractive growth potential. For the fiscal year ended September 2016, STE had revenues of €146 million.
“I am delighted to welcome the Siemens Turbomachinery Equipment team to Colfax,” said Matt Trerotola, president and chief executive officer of Colfax. “STE’s brands reach as far back as 1899, and the business has thousands of satisfied customers and installations around the world. We are excited by the opportunities created by combining STE with Howden’s global footprint, continuous improvement culture and aftermarket capabilities. The acquisition expands our end markets and product portfolio in environmental and industrial markets worldwide. We look forward to continuing to innovate and grow together.”
“We are very pleased to have entered into an agreement with a prestigious strategic purchaser such as Colfax. Colfax, with its subsidiary Howden, is the ideal purchaser to strengthen the business’ overall competitive position. The sale enables the business to successfully expand in its core business of compressor production for numerous applications, including small steam turbines and associated services,” said Christopher Rossi, CEO of the Dresser-Rand business, part of Siemens Power and Gas Division.
Closing of the acquisition is expected in the fourth quarter following completion of carve-out activities and fulfillment of customary closing conditions, including receipt of applicable regulatory approvals.
(Diesel and Gas Turbine)
【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
Previous Zero-Max Load Adaptors Connect Pump Impellers in Underwater Applications
Next Aug 17 Bearing Steel Price in Different Regions of China
Next Aug 17 Bearing Steel Price in Different Regions of China
BRIEF INTRODUCTION
Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.
Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.
China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.
