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Spirax Sarco Acquires the Business/Assets of its Chilean Distributor for Total Consideration of £3.3 Million - Newly formed subsidiary company Spirax-Sarco Chile Limitada (“Spirax Chile”), it has acquired the business and assets of the steam speciality business of Termodinámica Limitada (“Termodinámica”), based in Santiago, Chile
Spirax Sarco Acquires the Business/Assets of its Chilean Distributor for Total Consideration of £3.3 Million

 

PRZOOM - /newswire/ - Blythewood, SC, United States, 2012/11/07 - Newly formed subsidiary company Spirax-Sarco Chile Limitada (“Spirax Chile”), it has acquired the business and assets of the steam speciality business of Termodinámica Limitada (“Termodinámica”), based in Santiago, Chile.

   
 
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Spirax-Sarco Engineering plc announces that, through its newly formed subsidiary company Spirax-Sarco Chile Limitada (“Spirax Chile”), it has acquired the business and assets of the steam speciality business of Termodinámica Limitada (“Termodinámica”), based in Santiago, Chile.

Termodinámica is Spirax Sarco’s exclusive distributor for Chile and has during the last 40 years grown the Group’s sales in this emerging industrial market. With the increased technical and market development that will now be provided, Spirax Chile will be well positioned to assist its customers to improve the costs and environmental impacts of operating their steam using processes. Chile is an expanding market with good future growth prospects that will be enhanced by our direct sales approach.

The total purchase consideration of 2.5 billion Chilean Pesos (£3.3 million) will be met from existing Group resources and will be paid over the next 12 months against performance conditions being met. The transaction is expected to make an immediate small positive contribution to Group earnings.

Enquiries:
Mark E Vernon, Chief Executive
David Meredith, Director Finance
T: 01242 535234

 
 
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Agency / Source: Spirax Sarco

 
 

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Spirax Sarco Acquires the Business/Assets of its Chilean Distributor for Total Consideration of £3.3 Million

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Spirax Sarco |
Contact: Press Office - SpiraxSarco.com 
803-714-2036 insidesalesleads[.]spirax.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Spirax Sarco securities in any jurisdiction including any other companies listed or named in this release.

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