Atlas Copco (STO:ATCOA) (STO:ATCOB) has signed an agreement to acquire the assets of Mafi-Trench Corporation, a leading U.S.-based supplier of turboexpanders for the oil and gas industry.
Mafi-Trench provides machinery including expander compressors and expander generators, which treat gases at cryogenic temperatures. Applications are mainly for the hydrocarbon markets, including natural gas processing, petrochemicals and power generation. The company had sales in 2006 of approximately MSEK 360 (MUSD 54) and more than 120 employees. For more information see http://www.mafi-trench.com
“The acquisition of Mafi-Trench will add a strong brand name to the Group and broaden our offering for gas treatment and purification,” says Ronnie Leten, President of Atlas Copco’s business area Compressor Technique. “This gives us a solid presence in the entire oil and gas value chain, from upstream to downstream.” Privately-owned Mafi-Trench is headquartered in Santa Maria, California and also has operations in India. Following the completed acquisition, the company will belong to Atlas Copco’s Gas and Process division, which is part of the Compressor Technique business area.
The transaction is planned to be closed during the third quarter.
Atlas Copco is a world leading provider of industrial productivity solutions. The products and services range from compressed air and gas equipment, generators, construction and mining equipment, industrial tools and assembly systems, to related aftermarket and rental. In close cooperation with customers and business partners, and with more than 130 years of experience, Atlas Copco innovates for superior productivity. Headquartered in Stockholm, Sweden, the Group’s global reach spans more than 150 markets. In 2006, Atlas Copco had 25 900 employees and revenues of BSEK 51 (BEUR 5.6). Learn more at www.atlascopco.com.
Gas and Process is a division within Atlas Copco’s Compressor Technique business area. It develops, manufactures and markets large, customized gas and process compressors and turbo expanders, and their respective aftermarket products. Its products are used primarily by the oil and gas, chemical/petrochemical process and power industries worldwide, and also by industries that specialize in gas production through air separation. The divisional headquarters and main production center is located in Cologne, Germany.
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