Alfa Laval completes acquisition of Aalborg Industries
Alfa Laval – a world leader in heat transfer, centrifugal separation and fluid handling – has completed the acquisition of Aalborg Industries Holding A/S, after having received clearance from the competition authorities. The acquisition, which adds complementary energy-efficient and environmental solutions, represents a significant business opportunity as it supports Alfa Laval’s existing offer to the marine and off-shore markets. Another opportunity lies in the introduction of Aalborg’s products to customers in completely new end markets, through Alfa Laval’s sales network.
The cash consideration totals SEK 5.0 billion, on an enterprise value basis. Aalborg Industries has some 2,600 employees and generated sales of about SEK 3.1 billion in 2010. The acquisition, consolidated as of May 1, is expected to be accretive to EPS from 2011.
“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.
The acquisition further strengthens Alfa Laval’s product offering in heat transfer. It adds market-leading positions with products such as 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 also highly attractive attributes.
Did you know that… Alfa Laval, over the last five years, has acquired 30 companies with total sales, at the time of the acquisitions, of about SEK 8.5 billion?
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 the Nordic Exchange, Nordic Large Cap, and, in 2010, posted annual sales of about SEK 24.7 billion (approx. 2.6 billion Euros). The company has 12 600 employees.
www.alfalaval.com
For more information please contact:
Peter Torstensson
Senior Vice President, Communications
Alfa Laval
Tel: + 46 46 36 72 31
Mobile: +46 709 33 72 31
Gabriella Grotte
Investor Relations Manager
Alfa Laval
Tel: +46 46 36 74 82
Mobile: +46 709 78 74 82