June 30, 2014 | Ad hoc announcement pursuant to Art. 53 LR
Burckhardt Compression acquires “Espresso” monitoring business from Monitoring Technology LLC
As of June 26th, 2014, PROGNOST Systems GmbH (PSG), a subsidiary of Burckhardt Compression Holding AG, and Monitoring Technology LLC (Fairfax, VA) agreed on the acquisition of certain assets related to the Espresso vibration monitoring business and technology from the company’s monitoring portfolio. The Espresso monitoring system is applied by users in the petrochemical, cement and paper industries and offers a wide range of specialized frequency analysis and automatic diagnostic features.
The “Espresso” product is based on 25 years of experience in early fault detection utilizing advanced diagnostics for rotating equipment such as gearboxes, extruders, cement mills and paper machines. Already a leader for condition monitoring and diagnostic systems as well as services, the latest acquisition rounds out the portfolio of PROGNOST Systems GmbH (PSG). As a global technology company, Monitoring Technology LLC provides products that monitor industrial equipment and processes in different industries. Terms of the acquisition agreement will not be disclosed.
Comprehensive range of specialized monitoring and diagnostic technologies
Espresso’s four employees as well as the acquired technology will be integrated into PROGNOST Systems GmbH, the center of competence for condition monitoring and diagnostic systems of Burckhardt Compression Holding AG. For its current customers, many of whom are active in the petrochemical, cement and paper industries, support and service will continue as before. In addition, Espresso users will benefit from the existing global sales and service partner network of PROGNOST Systems as well as its Customer Support teams. Furthermore the future consolidation of Espresso and PROGNOST technology will allow users to apply the entire range of specialized monitoring and diagnostic technologies for reciprocating and centrifugal machinery.
About PROGNOST Systems
PROGNOST Systems is the No.1 partner for companies around the world that need to ensure safe, reliable, and economic operation of their rotating equipment. PROGNOST Systems develops and produces the world’s leading monitoring technology for rotating equipment. Its portfolio consists of condition monitoring systems and diagnostic services based on over 25 years of experience in recording, analyzing and interpreting high-frequency status data for rotating equipment. With hundreds of PROGNOST®-NT installations operating on rotating equipment, PROGNOST Systems is the leading supplier of online diagnostic systems for reciprocating compressors. Locations in Germany and the USA as well as the global sales and services partner network ensure fast and reliable on-site support
About Burckhardt Compression
Burckhardt Compression is a global market leader in the field of reciprocating compressors. It is the only manufacturer that covers a complete range of reciprocating compressor technologies. Compressor systems are designed and manufactured to meet specific customer requirements in the oil & gas, gas transport and storage, refinery, chemicals and petrochemicals industries as well as for industrial gas applications. Burckhardt Compression’s leading technology, high-quality compressor components and full range of services help customers to minimize the life cycle costs of their reciprocating compressor systems. Since 1844 its highly skilled workforce has crafted superior solutions and set the benchmark in the gas compression industry.