Burckhardt Compression is strengthening its market presence by acquiring the global compressor business from the Japan Steel Works Ltd (JSW). JSW is a highly diversified manufacturer of steel, power-plant equipment and industrial machinery and generated overall sales of CHF1.9 billion in 2018. Approximately 1 – 2% of the overall sales is estimated to be generated in the compressor business.
JSW’s headquarters are located in Tokyo and the company is listed on the Japanese stock exchange. Burckhardt Compression (Japan) Ltd, headquartered in Yokohama, will assume responsibility for the local customer relationship management.
With the acquisition of the compressor business from JSW, Burckhardt Compression is expanding its market reach and its product portfolio. Marcel Pawlicek, CEO Burckhardt Compression: “Burckhardt Compression is building on its market leadership in the compressor business and expanding its presence in Japan, a key market, with this acquisition.”
Both parties agreed not to disclose any details of the acquisition price. The acquisition agreement was signed on 4 March 2020. The closing of the transaction is expected to occur at the end of March 2020.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/05032020/burckhardt-compression-acquires-jsws-compressor-business/
