Atlas Copco acquires Mafi-Trench, expands in oil and gas markets
New Delhi, July 23 (UNI) Atlas Copco India Ltd today said it has acquired Mafi-Trench Corporation, a US-based supplier of turbo expanders for the oil and gas industry.
''The acquisition of Mafi-Trench will add a strong brand name to the Group and broaden our offering for gas treatment and purification,'' said Ronnie Leten, President of the Company's business area Compressor Technique in a statement adding that the agreement will provide the company a strong presence in the entire oil and gas value chain, from upstream to downstream.
The transaction is planned to be closed during the third quarter.
Privately-owned Mafi-Trench is headquartered in Santa Maria, California and also has operations in India. Following the completed acquisition, the company will belong to Atlas Copco's Gas and Process division, which is part of the Compressor Technique business area, said a statement.
Mafi-Trench provides machinery including expander compressors and expander generators, which treat gases at cryogenic temperatures. The company had sales in 2006 of approximately MSEK 360 (MUSD 54) and more than 120 employees.
UNI