Alfa Laval strengthens its position in the oil and gas industry – acquires global market leader
Alfa Laval – a world leader in heat transfer, centrifugal separation and fluid handling – has today signed an agreement to acquire Packinox S.A. in France. Packinox is a world leader in large welded plate heat exchangers for Oil & Gas and Refinery applications, with an expected sales of about MSEK 450 in 2005 and with approximately 145 employees within R&D, manufacturing and sales.
Mr. Lars Renström, President and CEO of the Alfa Laval Group, comments on the acquisition: “The acquisition of Packinox means that we strengthen our position and that we complement our competence platform in Oil & Gas and Refinery applications. It also means that we will be able to expand our offering to both existing and potential customers on the global market.” Packinox S.A. with headquarters in Paris and manufacturing unit in Chalon-sur-Saône in France, is active on the global market with own sales offices in the US, Russia and China. Their reputation is built upon twenty years’ experience and a large installed base throughout the world. Mr. Thierry Daffos, Chairman and CEO of Packinox S.A., comments on the agreement: “We are very excited that Alfa Laval is the buyer since there is perfect match between Packinox niche competence and Alfa Laval’s broad product portfolio and leading position.” Editor’s notes: 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 Stockholm Exchange and, in 2004, posted annual sales of about SEK 15 billion (approx. 1.7 billion euros). The company has some 9,500 employees. For further information, please visit the Alfa Laval website at www.alfalaval.com Packinox is a world leader in large welded plate heat exchangers for the hydrocarbon industry. Using its unique proprietary technology and manufacturing process, Packinox designs, develops and manufactures welded plate heat exchangers with an extensive array of customer benefits. Packinox collaborates with customers to optimize their process units and to provide them with effective answers to their needs. Further information can be found at www.packinox.com For more information please contact: Peter Torstensson Vice President, Communications Tel: + 46 46 36 72 31 Mikael Sjöblom Investor Relations Tel: +46 46 36 74 82