Alfa Laval buys US heat transfer product supplier Air Cooled Exchangers
Alfa Laval has acquired US-based company Air Cooled Exchangers (ACE), a leading manufacturer of custom-engineered air-cooled heat exchangers, used to cool air, natural gas, oil and water in the natural gas market as well as other energy-related end markets.
The company was acquired on December 31, 2012, though the acquisition was not announced until Monday.
The acquisition of ACE brings a new product range into our heat transfer offering, at a time when demand for air-cooled heat exchangers is accelerating especially in the natural gas industry," said Lars Renström, CEO of the Alfa Laval Group.
"Together, Alfa Lavals overall position is further strengthened, and were even better positioned to serve the energy-related industries.
ACE is expected to generate sales of approximately SEK 350 million ($54 million) in 2012, with profitability well above the average for the Alfa Laval Group, according to the company.
The intention is to integrate Air Cooled Exchangers into the company's energy and environment segment, within the process technology division.
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