May 7, 2008 - Metso Automation and The Linde Group have signed a purchase agreement regarding MAPAG Valves GmbH, a manufacturing company of high performance butterfly valves for the petrochemical, air separation and liquefied natural gas (LNG) industries. The enterprise value is EUR 36 million. In connection with the transaction, the parties have made a long-term partnership agreement. The acquisition will require relevant regulatory approvals. MAPAG Valves operates a modern factory in Horgau, near Munich.
It employs around 100 persons and its net sales in 2008 is estimated to be approx. EUR 36 million. The company is operating profitably. Its special strengths are in engineering, project management and process know-how for demanding applications. "With the acquisition, Metso supports its strategy to complement the product offering for the energy and hydrocarbon industries," says Pasi Laine, President, Metso Automation.
"It also improves Metso Automation's market position in the fast growing industrial markets, such as industrial gas and liquefied natural gas (LNG). The partnership agreement enables to deepen the customer relationship and technology cooperation with The Linde Group." The Linde Group is a world leading gases and engineering company with more than 50,000 employees working in around 100 countries worldwide. In the 2007 financial year it achieved sales of EUR 12.3 billion.
Metso Automation
specializes in automation and information management application networks and systems, field control technology and life cycle performance services. Its main customers are energy, power and oil and gas industries as well as the pulp and paper industry. With almost 3,600 employees, Metso Automation operates worldwide through sales and customer support units in 35 countries across Europe, North and South America, Asia and Africa. In 2007, Metso Automation’s net sales were EUR 698 million. Metso is a global engineering and technology corporation with 2007 net sales of over EUR 6 billion.
Its almost 27,000 employees in approximately 50 countries serve customers in the pulp and paper industry, rock and minerals processing, the energy industry and selected other industries.