Atlas Copco acquires cryogenic pump business
Stockholm, Sweden, January 24, 2011: Atlas Copco Mafi-Trench LLC, USA, has signed an agreement to acquire the pump business from J.C. Carter LLC, headquartered in California, USA.
J.C. Carter is a leading producer of cryogenic submerged motor pumps, which have many applications in the growing natural gas market. The company’s products are primarily used in liquid natural gas regasification and liquefaction plants, and natural gas liquid processing. In 2009 the company had around 70 employees and revenues of approximately MUSD 25 (MSEK 175).
“The acquisition will extend Atlas Copco’s offering to customers in liquid natural applications as well as to the chemical and petrochemical industries,” says Stephan Kuhn, Business Area President of Atlas Copco Compressor Technique.
The acquired business will be a part of Atlas Copco’s Gas and Process Division and the deal is expected to be closed in the first quarter 2011. The parties have agreed not to disclose the purchase price.
For further information please contact:
Atlas Copco may be required to disclose the information provided herein pursuant to the Securities Markets Act.
- Stephan Kuhn, Business Area President, Compressor Technique
+32 (0)3 870 2938 or +32 (0)474 881 154
- Love Liman, Acting Media Relations Manager
+46 (0)8 743 8060 or +46 (0)73 318 8060
Atlas Copco is an industrial group with world-leading positions in compressors, construction and mining equipment, power tools and assembly systems. The Group delivers sustainable solutions for increased customer productivity through innovative products and services. Founded 1873, the company is based in Stockholm, Sweden, and has a global reach spanning more than 170 countries. In 2009, Atlas Copco had about 30 000 employees and revenues of BSEK 64 (BEUR 6.0).
Atlas Copco’s Compressor Technique business area develops, manufactures, markets, and services oil-free and oil-injected stationary air compressors, portable air compressors, gas and process compressors, turbo expanders, electric power generators, air treatment equipment and air management systems. It also offers specialty rental services. It innovates for superior productivity in applications such as manufacturing, construction, and the process industry worldwide. Principal product development and main manufacturing units are in Antwerp, Belgium.