Completion of AcquisitionSource: RNS
4th July 2017
Completion of the acquisition of Chromalox Inc.
Spirax-Sarco Engineering plc (Spirax Sarco), which specialises in the control and efficient use of steam, and in peristaltic pumping and associated fluid path technologies, is pleased to announce the completion of the acquisition of Chromalox Inc., details of which were announced on 26th May 2017.
Nicholas Anderson, Group Chief Executive of Spirax Sarco, said:
"We are delighted to complete the acquisition of Chromalox and welcome our new colleagues to the Spirax Sarco family. Chromalox is closely related to our Steam Specialities business, in delivering thermal energy solutions to customers, and we look forward to leveraging the Steam Specialities business model and our global footprint to further internationalise Chromalox and to enhance and grow their already strong US business".
Nicholas Anderson, Chief Executive
Kevin Boyd, Group Finance Director
Tel: 01242 535234
About Spirax Sarco
Spirax-Sarco Engineering plc is the world leader in each of its two existing businesses: Spirax Sarco for steam and Watson-Marlow Fluid Technology Group for niche peristaltic pumps and associated fluid path technologies. Spirax Sarco provides a broad range of fluid control and, post the acquisition of Chromalox electrical process heating products, engineered packages, site services and systems expertise for a diverse range of industrial and institutional customers. The business helps its end users to improve production efficiency, reduce energy costs, water usage and emissions, improve product quality and enhance the safety of their operations. Watson-Marlow Fluid Technology Group offers the ideal solution for a wide variety of demanding fluid path applications with highly accurate, controllable and virtually maintenance free pumps and associated technologies. The Group is headquartered in Cheltenham, England and has strategically located manufacturing plants around the world. Following the acquisition, the Group will employ over 7,000 people, of whom approximately 1,550 are direct sales and service engineers. Its shares have been listed on the London Stock Exchange since 1959 (symbol: SPX).
Further information can be found at www.spiraxsarcoengineering.com
This information is provided by RNS