16 June 2003 12:00
Aalberts Industries strengthens stainless steel fittings activities
Aalberts Industries N.V., with activities spanning the fields of Industrial Services and Flow Control, will expand its Flow Control activities by adding a complete range of stainless steel fittings to its range of products.
The enlargement of activities will be achieved by taking over the assets of Hage Haustechnik, part of Hage Fittings GmbH & Co. KG. Besides the product rights and market position, the acquired assets include notably the brand name DOMINOX® plus a small inventory.
Hage Haustechnik is one of Europe's leading suppliers of stainless steel fittings.
Adding stainless steel fittings to its array of products forms part of Aalberts Industries’ plan to build upon its leading position in Europe by offering additional product groups.
The acquired activities will be integrated in the Yorkshire Fittings Group. The products will be sold through the general European sales network of Aalberts Industries Flow Control.
The annual turnover generated by the acquisition amounts to approximately eur 10 million and the healthy margins will contribute directly to the growth of profits.
Aalberts Industries will finance the transaction from its own financial resources.