[DEN] Alfa Laval completes acquisition of Aalborg Industries

Alfa Laval has completed the acquisition of Aalborg Industries Holding A/S, after having received clearance from the competition authorities. The acquisition, which adds complementary energy-efficient and environmental solutions, represents a significant business opportunity as it supports Alfa Laval’s existing offer to the marine and off-shore markets.  Another opportunity lies in the introduction of Aalborg’s products to customers in completely new end markets, through Alfa Laval’s sales network.

The cash consideration totals SEK 5.0 billion, on an enterprise value basis. Aalborg Industries has some 2,600 employees and generated sales of about SEK 3.1 billion in 2010. The acquisition, consolidated as of May 1, is expected to be accretive to EPS from 2011.

“Aalborg Industries is an excellent fit and I’m very pleased to welcome a strong and well-run company into Alfa Laval”, says Lars Renström, President and CEO of the Alfa Laval Group.

The acquisition further strengthens Alfa Laval’s product offering in heat transfer. It adds market-leading positions with products such as boilers and thermal fluid systems, as well as inert gas systems, with significant barriers to entry. These include extensive certification processes, a strong innovation track record and a global service network. The company’s strong manufacturing and engineering presence in fast-growing markets such as China, Vietnam and Brazil, as well as the aftermarket potential generated by a large installed base, are also highly attractive attributes.

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