Sulzer expands Turbomachinery Service and Component Business
On Wednesday, September 13, 2000, Sulzer signed an agreement to acquire the turbine machinery activities of the Interturbine Group, a privately owned company based in Lomm/The Netherlands. The acquisition includes Eldim and Interturbine Coating Center which will be integrated into Sulzer Metco, and Elbar which will be integrated into Sulzer Turbomachinery Services.
The three companies to be acquired employ 625 persons. 1999 sales totalled EUR 79.6 million (CHF 124.2 million). The price of the transaction will not be released.
Eldim is a supplier of components to the OEM market for aero and industrial gas turbines. Inter-turbine Coating Center offers advanced coatings for industrial gas turbines. Both companies will become part of Sulzer Metco. Elbar, which specializes in the repair and maintenance of gas turbines, will become part of Sulzer Turbomachinery Services. Sulzer Metco and Sulzer Turbomachinery Services are both part of the Services and Equipment division of Sulzer Industries. Final closing of the transaction is expected by the end of October, 2000. The transaction is subject to approval by the regulatory and antitrust authorities. With this move Sulzer Industries achieves a major strategic strengthening of the two expanding business units Sulzer Metco and Sulzer Turbomachinery Services.
Interturbine is an international group of companies specialising in the manufacture and repair of aero engine and stationary gas turbine components. Apart from Elbar, Eldim, and Interturbine Coating Center, this privately owned group also includes Eldim Applied Technologies, a fourth subsidiary, which will not be part of the acquisition.