Business & Economics :: Latest News
April 23, 2008
GEA acquires Dutch heat-exchanger firm
GEA Group AG (Bochum, Germany; www.geagroup.com) has further strengthened its Process Equipment division through the acquisition of the Dutch company Bloksma (Almere, Netherlands). Bloksma manufactures intercoolers for marine engines, oil coolers for industrial applications, double-pipe coolers for various industrial processes, and a special cooler for marine engines, so-called box coolers, which are fitted on to the exteriors of ships. The company employs a workforce of around 160 employees, and 2007 sales amounted to over 30-million euros. The transaction will prospectively take effect from June 1, 2008, following anti-trust approval.
"Bloksma represents an excellent addition to our product range, and fits very well with our industrial heat-exchange activities, which also build intercoolers and tube-bundle heat exchangers. The acquisition will further improve the competitiveness of our industrial heat-exchanger business area," commented Niels Graugaard, member of the executive board of GEA Group.
As recently as the end of February, GEA's plate heat-exchangers business was expanded through the acquisition of ViEX, which is based in Newmarket, near Toronto in Canada. The GEA Group has made further investments this year with the acquisition of the French company Univalve, Schiltigheim, which produces valves for the foodstuffs area. Business in the Thermal Engineering division was strengthened with the acquisition of the UK company PSSP, Willenhall, and the German company NEMA AirFin, Netzschkau. These acquisitions mean GEA has already added over EUR 75 million of annual sales volumes this year through acquisitions, and further corporate purchases are being prepared.