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NIBE acquires 60% share in BriskHeat Corp.

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Hydrocarbon Engineering,

NIBE has reached an agreement to acquire 60% of the outstanding shares in BriskHeat Corp.

NIBE has also agreed to acquire the remaining 40% of BriskHeat´s outstanding shares at a later time. BriskHeat will become part of NIBE Element North America.

BriskHeat manufactures cloth-heating jackets for the semiconductor, composite, petrochemical, plastics and consumer product industries. The company will continue to run its operations and support its global customer base from its Columbus, Ohio, US and Vietnam production locations as well as from its sales and warehouse facilities in Taiwan, China and the Netherlands.

Gerteric Lindquist, CEO of NIBE, said: “BriskHeat represents another key step in our strategy to become the leading electric heating supplier worldwide; this time in the important and growing semiconductor industry. Here BriskHeat has an important and growing global customer base with both the manufacturers of semiconductor equipment (OEMs) and the actual manufacturers of semiconductors themselves. BriskHeat´s presence in this and other end markets, combined with NIBE worldwide manufacturing footprint and engineering activities will provide for significant synergies and growth opportunities going forward”.

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