Dürr Forms Industrial Environmental Technology Provider
BIETIGHEIM-BISSINGEN, Germany – Dürr is forming a leading supplier of environmental technology systems for industrial exhaust-air purification through the acquisition of the industrial environmental technology business of Babcock & Wilcox Enterprises Inc. (B&W). "Through this acquisition, we are establishing a leading company with sales of around €400 million and the broadest technology and service range in the market. The global setup of the new unit provides an excellent basis for growth in the coming years," said Dr. Jochen Weyrauch, who is responsible for paint shop and environmental technology business as well as M&A on the Dürr AG Board of Management.
The purchase agreement comprises the acquisition of the three B&W subsidiaries: Babcock & Wilcox MEGTEC LLC, Babcock & Wilcox MEGTEC Holdings Inc. and Babcock & Wilcox Universal Inc. The purchase price will be calculated based on the enterprise value of the three companies, which amounts to around €110 million. Closing is expected in the third quarter of 2018. The deal is subject to the satisfaction of usual antitrust closing conditions and regulatory approvals.