Metso snaps up valve manufacturer
07 May 2008
Metso Automation has acquired MAPAG Valves, a German butterfly valve manufacturer with an estimated enterprise value of €36 million (£28 million). Metso signed a purchase agreement with The Linde Group and, in connection with the transaction, have made a long-term partnership agreement.
‘With the acquisition, Metso supports its strategy to complement the product offering for the energy and hydrocarbon industries,’ said Pasi Laine, president of Metso Automation.
He continued to say that the purchase would improve Metso’s position in markets such as industrial gas and liquefied natural gas.
‘The partnership agreement enables to deepen the customer relationship and technology cooperation with The Linde Group,’ Laine concluded.
The acquisition will require relevant regulatory approvals.
Contact Details and Archive...
Most Viewed Articles...