Mumbai:
Atlas Copco Group has acquired Mafi-Trench Corporation, a leading US-based supplier
of turbo expanders for the oil and gas industry.
Mafi-Trench
has a small presence in India and the company is evaluating the options for integration
of this unit with its Indian operations, Atlas Copco India Ltd said in a filing
with the Bombay Stock Exchange (BSE).
The
impact of this acquisition on the operations of the Indian company, however, is
not material, the statement added. The statement also did not detail the cost
of acquisition.
Mafi-Trench
provides oil field machinery, including expander compressors and expander generators,
which treat gases at cryogenic temperatures. These machines have applications
in the hydrocarbon markets, including natural gas processing, petrochemicals and
power generation.
The
company had 2006 sales of approximately $54 million and more than 120 employees.
"The acquisition
of Mafi-Trench will add a strong brand name to the group and broaden our offering
for gas treatment and purification," said Ronnie Leten, president of the
company''s compressor technique business. "This gives us a solid presence
in the entire oil and gas value chain, from upstream to downstream," he added.
"Privately-owned
Mafi-Trench is headquartered in Santa Maria, California and also has operations
in India. Post acquisition, the company will be merged with Atlas Copco''s gas
and process division, which is part of the compressor technique business area.
The
transaction is expected to close during the third quarter of the current year.
Atlas
Copco is a leading provider of industrial productivity solutions the world over.
The group offers products and services ranging from compressed air and gas equipment,
generators, construction and mining equipment, industrial tools and assembly systems.
The
Group''s global reach spans more than 150 markets. In 2006, Atlas Copco had revenues
of 5.6 billion euros and 25 900 employees at year-end.
With
customers worldwide, Atlas Copco is a local company; at the same time, the group
is a global enterprise with worldwide resources.