Alfa Laval Group acquires LHE, a leading heat exchanger company in South Korea
LUND, Sweden, Sept. 1, 2009 -- Alfa Laval Group acquired 90% of shares in LHE Co. Ltd. in South Korea, which targets the compact plate heat exchanger market with sales of about SEK 750 million in 2008 and some 170 employees...
Sep 1st, 2009
LUND, Sweden, Sept. 1, 2009 -- Alfa Laval Group, a world leader in heat transfer, centrifugal separation and fluid handling, has acquired 90% of the shares in LHE Co. Ltd. in South Korea. The company targets the compact plate heat exchanger market, with sales of about SEK 750 million in 2008 and some 170 employees. LHE will be consolidated into the Alfa Laval Group from Sept. 1, 2009.
"I’m very satisfied that we were able to acquire LHE, a well-managed company with strong presence in South Korea and with a large potential in Asia," says Lars Renström, President and CEO of the Alfa Laval Group. "With the acquisition of LHE the Alfa Laval Group achieves profitable growth by adding an independent channel to the heat exchanger market. LHE will continue to offer its own product range, under the LHE brand, through its own sales network."
Alfa Laval (www.alfalaval.com) is a leading global provider of specialized products and engineering solutions based on its key technologies of heat transfer, separation and fluid handling. Its equipment, systems and services are dedicated to assisting customers in optimizing the performance of their processes. The solutions help them to heat, cool, separate and transport products in industries that produce food and beverages, chemicals and petrochemicals, pharmaceuticals, starch, sugar and ethanol. The company's products are also used in power plants, aboard ships, in the mechanical engineering industry, in the mining industry and for wastewater treatment, as well as for comfort climate and refrigeration applications. Its worldwide organization works closely with customers in nearly 100 countries to help them stay ahead in the global arena. Listed on the Nordic stock exchange, Nordic Large Cap, the company posted annual sales of about SEK 28 billion (2.9 billion Euros) in 2008. The company has some 12,000 employees.
LHE or Leader Heat Exchanger (www.lhe.co.kr) serves the market for compact and welded heat exchangers with focus on offshore oil & gas, marine, nuclear power, the process industries and HVAC. LHE employs approximately 170 people engaged in R&D, design, manufacturing, sales and after sales service. In 2008, the company enjoyed sales of about SEK 750 million.