July 23, 2007
Stockholm, Sweden, July 23, 2007: Atlas Copco 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.