AxFlow Acquires Colfax Bombas S.A.

26.05.2003

AxFlow S.A. in Madrid, a company within the AxFlow Group, has acquired Colfax Bombas S.A. in Barcelona from the German pump manufacturer Allweiler AG, a Member of The Colfax Pump Group.

The main product lines of Colfax Bombas S.A. are Allweiler screw, progressing cavity and centrifugal pumps and Houttuin and IMO screw pumps. These product lines will be in the future distributed on an exclusive basis by AxFlow, S.A. in Spain and Portugal.

The transaction took place in Barcelona March 7th, 2003 and is effective from January 1st, 2003.

The new constellation will create a market-leading organisation for positive displacement pumps with a combined turnover close to € 8 million. Offices including sales and technical support, warehouse and complete service facilities will be located in Madrid and Barcelona.

Customers will benefit from a more complete product offering, higher efficiency, extended stock program in two locations and professional technical and service facilities.

The AxFlow Group, active all over Europe, specialises in the marketing, distribution and provision of a complete sales engineering service for high quality, market-leading fluid handling equipment. AxFlow's high standards of technical competence, service and integrity have contributed to steady growth since its establishment in 1989 and form the basis for future development. AxFlow represents world leading manufacturers of fluid handling equipment, and together we offer the highest value to customers. AxFlow's philosophy is to continue to enhance the range and scope of its services, and to offer customers full commitment and value from one source.

The AxFlow Group has an annual turnover of € 100 million and 400 employees and is a subsidiary of Axel Johnson International AB, Stockholm, Sweden. www.axflow.com

Headquartered in Monroe, North Carolina, the Colfax Pump Group is comprised of four leading pump manufacturers: Allweiler, IMO, Houttuin and Warren. Collectively, they offer a complete product range at the highest quality in the industry. Through the utilization of world-class business systems, Colfax Pump Group fulfils its mission as a premiere global supplier of rotary and centrifugal pumps differentiated through customer-focused, value-added services. The Colfax Pump Group has annual revenues of € 220 million and is one of the two divisions of Colfax Corp., Richmond, Virginia, USA. (www.colfaxcorp.com, www.allweiler.com)

Source: AxFlow Group

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