LUND, Sweden--(BUSINESS WIRE)--Regulatory News:
Alfa Laval – a world leader in heat transfer, centrifugal separation and fluid handling – has completed the acquisition of Frank Mohn AS, following approval from competition authorities. The acquisition, which adds marine and offshore pumping systems, represents a significant business opportunity as it further strengthens Alfa Laval’s position as a leading provider of critical systems for marine and offshore oil and gas production units.
The cash consideration totals NOK 13 billion, on a cash and debt free basis. In 2013 Frank Mohn AS, which has some 1,200 employees, reported sales of NOK 3.4 billion and an order intake of NOK 6.1 billion. The acquisition, consolidated as of May 22, will be accretive to EPS as from the closing.
“Frank Mohn AS is an excellent and well-run company,” says Lars Renström, President and CEO of the Alfa Laval Group. “I am very pleased to welcome all its employees and its customers to Alfa Laval.”
The acquisition strengthens Alfa Laval’s product offering as regards to fluid handling equipment and it also strengthens Alfa Laval’s position in the marine and offshore markets. Frank Mohn AS, with the brand name Framo, is a leading supplier of submerged pumping systems to these markets.
Did you know that… forecasts predict that the rising U.S. exports of chemicals such as ethylene, a basic building block in plastics and textiles, would drive a five to six percent annual rise in global demand for chemical tankers over the next three years?
About Alfa Laval Alfa Laval is a leading global provider of specialized products and engineering solutions based on its key technologies of heat transfer, separation and fluid handling.
The company’s equipment, systems and services are dedicated to assisting customers in optimizing the performance of their processes. The solutions help them to heat, cool, separate and transport products in industries that produce food and beverages, chemicals and petrochemicals, pharmaceuticals, starch, sugar and ethanol.
Alfa Laval’s products are also used in power plants, aboard ships, in the mechanical engineering industry, in the mining industry and for wastewater treatment, as well as for comfort climate and refrigeration applications.
Alfa Laval’s worldwide organization works closely with customers in nearly 100 countries to help them stay ahead in the global arena.
Alfa Laval is listed on Nasdaq OMX, and, in 2013, posted annual sales of about SEK 29.8 billion (approx. 3.5 billion Euros). The company has today about 16 300 employees.
For more information please contact:
Senior Vice President, Communications
Tel: + 46 46 36 72 31
Mobile: +46 709 33 72 31
Investor Relations Manager
Tel: +46 46 36 74 82
Mobile: +46 709 78 74 82
This information was brought to you by Cision http://news.cision.com