April 21, 2020 | Ad hoc announcement pursuant to Art. 53 LR
Acquisition of global compressor business from The Japan Steel Works completed
Burckhardt Compression completed the acquisition of the global compressor business from The Japan Steel Works Ltd., abbreviated JSW, as announced on March 4, 2020. JSW is a highly diversified manufacturer of steel, power-plant equipment and industrial machinery.
With the acquisition of the global compressor business from The Japan Steel Works Burckhardt Compression is strengthening its market presence in Japan. The Japan Steel Works Ltd. whose headquarters are located in Tokyo generated in 2018 overall sales of CHF 1.9 billion. Approximately 1-2% of the overall sales is estimated to be generated in the compressor business. JSW is listed on the Japanese stock exchange. Burckhardt Compression (Japan) Ltd, headquartered in Yokohama, will assume responsibility for the local customer relationship management.
Both parties agreed not to disclose any details of the acquisition price.