Aalberts Industries strengthens market position in power generation
18 Januar 2016 - 7:30AM
Langbroek, 18 January
2016
Aalberts Industries N.V. has reached an agreement to acquire 100%
of the shares of Ushers Machine & Tool Co., Inc. (Ushers) with
locations in Round Lake, NY, Sunapee, NH and Greenville, SC. Ushers
generates an annual revenue of approximately USD 40 million and
will strengthen the position of Industrial Services in the power
generation end market.
Ushers services the OEM in the power generation end market directly
with several high grade technologies, such as precision machining,
welding, assembly and testing of complex parts and modules for
industrial gas turbines (IGT).
For many years, Ushers works closely together with our brazing and
heat treatment activity in North America. The complex parts and
modules are applied in the combustion chamber and hot gas path of
an industrial gas turbine. The market for IGT is growing fast due
to the worldwide need for 'green' energy.
Combining high grade technologies and excellent service, close to
our Key Accounts, will further strengthen our position in this end
market. In the coming years we will invest in the expansion, add
complementary technologies and expand the existing Key Account
partnerships to Europe and Asia.
Don Lincoln, President & CEO and former owner of Ushers with
his experienced Management Team, will continue to drive the
business with us and lead the many opportunities for profitable
growth.
The results of Ushers will be consolidated effective from 1 January
2016 and will directly contribute to the earnings per share. The
acquisition will be financed from existing credit
facilities.
More information on Ushers can be found at
www.ushersm.com.
100% ownership Impreglon
SE
Aalberts Industries N.V. achieved 100% ownership of Impreglon SE
after successfully finalising the squeeze out process in December
2015. The integration and improvement plans, will be accelerated
coming period, driven by a strengthened Management Team.
Divestment small activity
Aalberts Industries has recently divested the activity of Overeem,
Netherlands, with an annual revenue of approximately EUR 16
million. The proceeds from this transaction will be used to
strengthen existing market positions and operations.
For more information (from 8
am CET):
Wim Pelsma (CEO)
John Eijgendaal (CFO)
Oliver Jäger (Executive Director)
+31 (0)343 56 50 80
info@aalberts.com
Press release in pdf
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Aalberts Industries N.V. via Globenewswire
HUG#1979249
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