PRZOOM - /newswire/ -
Houston, TX, United States, 2010/07/08 - Integration of instrumentation maker expected to boost offering for oil and gas, water markets. NYSE: ABB
ABB, the global power and automation technology group, announced today it has completed its acquisition of Prairieville, Louisiana company K-TEK, which becomes part of the Measurement Products business unit within ABB’s Process Automation division.
With over 350,000 installations since its founding in 1975, K-TEK is recognized as a global leader in level detection technology. The operation employs more than 250 people with facilities in China, Netherlands, India and South Africa in addition to the US.
Veli-Matti Reinikkala, head of ABB’s Process Automation division, noted K-TEK’s leadership position in the oil and gas industry, where ABB has a large installed base.
“This acquisition will provide our mutual customers in oil and gas, water and other industries with access to an expanded range of leading-edge instrumentation and sensing technologies.” he said. “We see a lot of potential for synergy between ABB’s extensive geographic reach and exposure to other industries, and K-TEK’s depth in level detection technology.”
The acquisition is in line with ABB’s strategy to pursue growth opportunities that complement the company’s product, technology and geographical portfolio.
ABB (abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs more than 117,000 people.