March 04, 2020 | Ad hoc announcement pursuant to Art. 53 LR
Burckhardt Compression purchases global compressor business from The Japan Steel Works
Burckhardt Compression is strengthening its market presence and acquiring the global compressor business from The Japan Steel Works Ltd., abbreviated JSW. JSW is a highly diversified manufacturer of steel, power-plant equipment and industrial machinery and generated overall sales of CHF 1.9 billion in 2018. Approximately 1-2% of the overall sales is estimated to be generated in the compressor business.
Burckhardt Compression is purchasing the global compressor business of The Japan Steel Works Ltd. whose headquarters are located in Tokyo. JSW is listed on the Japanese stock exchange. Burckhardt Compression (Japan) Ltd, headquartered in Yokohama, will assume responsibility for the local customer relationship management.
With the acquisition of the compressor business from JSW, Burckhardt Compression continues to expand its market reach and its product portfolio. Marcel Pawlicek, CEO Burckhardt Compression: “Burckhardt Compression is building on its market leadership in the compressor business and expanding its presence in Japan, a key market, with this acquisition.”
Both parties agreed not to disclose any details of the acquisition price. The acquisition agreement was signed on March 4, 2020. The closing of the transaction is expected to occur end of March 2020.