Alfa Laval: sells part of its air heat exchanger business
(CercleFinance.com) - Swedish engineering firm Alfa Laval said it has signed an agreement to sell its commercial/industrial air heat exchanger business to Italy's LU-VE Group.
"This business has made big improvements the last two years both in terms of growth and profitability," said Tom Erixon, CEO of Alfa Laval. "However, we concluded it would have even better opportunities to continue developing under the ownership of the LU-VE Group," he added.
The unit employs about 400 people at production sites in Italy, Finland and India.
Alfa Laval will continue to supply air heat exchangers for heavy process industry applications and other types of heat exchangers for the heating, ventilation, and air conditioning and refrigeration industries.
The deal is expected to be closed during first half of 2019.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
"This business has made big improvements the last two years both in terms of growth and profitability," said Tom Erixon, CEO of Alfa Laval. "However, we concluded it would have even better opportunities to continue developing under the ownership of the LU-VE Group," he added.
The unit employs about 400 people at production sites in Italy, Finland and India.
Alfa Laval will continue to supply air heat exchangers for heavy process industry applications and other types of heat exchangers for the heating, ventilation, and air conditioning and refrigeration industries.
The deal is expected to be closed during first half of 2019.
Copyright (c) 2018 CercleFinance.com. All rights reserved.