February 20, 2009 | Ad hoc announcement pursuant to Art. 53 LR
Burckhardt Compression acquires Selltech
Burckhardt Compression AG, one of the market leaders in the field of reciprocating compressor technology, announced today that its US subsidiary in Houston, Texas, signed an acquisition agreement for Selltech - Compressor Pumps & Engine Products, Inc. in Valencia, California. This is consistent with the company's strategy to grow its compressor component and service business.
Burckhardt Compression (US) Inc. has signed an agreement today to acquire all shares of Selltech – Compressor Pumps & Engine Products, Inc. (Selltech). The agreement is expected to close at the end of February 2009. The purchase will not include Selltech’s used equipment business which will be continued in a new company by the former owner of Selltech. Terms of the acquisition agreement will not be disclosed.
Selltech started in 1996 and has been servicing the oil and gas industry ever since its inception. Selltech provides customer service including re-conditioning of cylinders, valves, pistons, rods, packing cases and complete compressors. The company is known for its experience, dedication and immediate parts availability at a high quality level. Selltech achieved in 2008 with seven employees a turnover of USD 2.4 million in the compressor component and service business.
“Selltech’s capabilities and tradition how to service the customers is a perfect fit for Burckhardt Compression. It also gives us the opportunity to build-up our compressor component and service business and reach new customers on the west coast”, says Rudy Buschauer, President of Burckhardt Compression (US) Inc.
Selltech’s founder and former owner, Steve Wylder added, “This is also a great opportunity for Selltech to expand the current capabilities with the engineering know-how, solutions and resources of a leading compressor OEM”.
About Burckhardt Compression
Burckhardt Compression is one of the market leaders in the field of reciprocating compressor technology and the only manufacturer that offers a complete range of Laby (labyrinth piston), process gas, and hyper compressors. These compressors are used in a wide range of applications in the chemical and petrochemical industry, in refineries, in air separation systems, and for gas transport and storage. Burckhardt Compression products are used to compress, cool or liquefy gas, for example hydrocarbon or industrial gases. Its customers include multinational companies in the oil, gas, petrochemicals and chemicals industries. In addition to its thriving new installation business, a major driver of the company’s success is its global service network, which generates a substantial share of company revenues. This global network enables Burckhardt Compression to offer comprehensive customer support services, such as delivery of top-quality components, servicing of compressor valves, complete system overhauls, engineering services and the fulfillment of comprehensive maintenance contracts.
Marco Scanderbeg, VP Marketing
Phone +41 (0)52 262 57 08
Fax +41 (0)52 262 03 48
E-mail: [email protected]