16 June 2006
Aalborg Industries has today entered into an agreement to acquire 100% of the shares in Enraf Smit Gas Systems in the Netherlands from Delft Instruments. The acquisition will significantly strengthen Aalborg Industries’ position within the fast growing oil & gas market.
"Smit Gas Systems is the global market leader of inert gas systems and represents together with our recent acquisition of Gosfern in Australia an important step to fulfill our growth strategy within oil & gas. Smit Gas Systems’ core competence lies within process, combustion and control technology. The combination of Aalborg Industries and Smit Gas Systems will enable us to provide our customers with complete solutions", says President and CEO Jan Vestergaard Olsen, Aalborg Industries.
During the transportation and storage of gas, crude oil and refinery products there is a risk that explosive gas mixtures may be formed in the cargo tanks. To avoid this dangerous situation, inert (inactive) gas or nitrogen is applied.
Enraf Smit Gas Systems, headquartered in Nijmegen, the Netherlands, has since the early 1960s supplied more than 2,000 inert gas systems to customers around the world. Aalborg Industries has for more than 25 years in a very successful co-operation represented Smit Gas Systems in Japan. The company has approximately 75 employees within sales, engineering, production, testing and commissioning of inert gas systems. The annual turnover is today approximately EUR 55 million.
For further information regarding this press release please contact:
Aalborg Industries A/S, Denmark, Jan Vestergaard Olsen, President & CEO, tel. +45 99 30 40 00.
Further information about Enraf Smit Gas Systems, please see http://www.smitgas.nl/
The company's has been renamed Aalborg Industries Inert Gas Systems B.V.
"Smit Gas" with be maintained as product brand.
About Aalborg Industries:
Aalborg Industries is the world’s leading supplier of marine boilers and related equipment for all types of commercial vessels. The company has subsidiaries in Denmark, Sweden, Finland, the Netherlands, Dubai, Singapore, Japan, China, Indonesia, Korea, Brazil, Vietnam, Australia and the USA. The sales activities are supported by a well-established agent network. Sales outside Denmark represents more than 95%. Production of the group’s products takes place at its own factories in Denmark, China, Brazil, Vietnam, Australia and Indonesia. Aalborg Industries with its recent acquisition will have a turnover of approximately EUR 300 million and has approximately 1,750 employees.
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