Nordic Business Report-April 10, 2006-Karolin Machine Tool AB acquires US company Aqua-Dyne
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The Swedish advanced production machines and system solutions manufacturer Karolin Machine Tool AB announced on Monday (10 April) that it has agreed to acquire privately-held US company Aqua-Dyne Inc.
The acquisition consideration amounts to USD10m.
Aqua-Dyne, based in Huston, Texas, manufactures high-pressure waterjetting systems and accessories for use in surface preparation, cleaning and concrete removal. The company has 35 employees and annual sales of USD8m.
"The acquisition of Aqua-Dyne significantly increases our market potential in the Waterjet area. By combining KMT Waterjet Systems' existing organisation, international experience and distribution channels with Aqua-Dyn's strong brand, we see considerable growth opportunities world-wide," commented Lars Bergstrom, president and CEO of KMT.
One US dollar (USD) is worth approximately 0.57 British pounds (GBP).
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