GERMANY – Swedish multinational industrial company Atlas Copco has agreed to acquire pumping solutions supplier Pumpenfabrik Wangen in an effort to expand into new industrial pump segments.
Based in Wangen, Germany, Pumpenfabrik Wangen is a manufacturer of progressive cavity pumped for transferring fluids mainly in the biogas and wastewater sectors.
The company also manufacturers twin-screw pumps for industries such as food and beverage and cosmetics.
Andrew, Business Area President Power Technique at Atlas Copco sees the acquisition as a strategic fit for the Swedish-based equipment manufacturer.
“Industrial pumps is a segment that we have identified as a strategic fit for Atlas Copco and Wangen Pumpen has leading differentiated technology with a strong aftermarket business,” Walker said.
“Wangen Pumpen is a strong brand and is known for quality in demanding industrial applications. This acquisition will create a solid foundation for further growth in new industrial pump segments.”
The acquisition, made for an undisclosed sum, is expected to be completed in the second quarter of 2022.
Once acquired, Pumpenfabrik Wangen will become part of the Power and Flow division within Atlas Copco’s Power Technique Business Area.
Q4 operating profits up 16%
Earlier, the Swedish engineering giant reported its Q4, 2021 results where operating profits rose 16% to 6.25 billion krona (US$691 million), up from $5.4 billion krona (US$595 million) a year earlier.
For the 12-month period ending Dec. 31, the company reported operating profits of 23.6 billion krona, up from 19.1 billion krona a year earlier.
The company reported orders received rose 29% in 2021 compared to the previous year with new orders from North America rising 36% while those from Europe and Asia jumped 28% and 32% respectively.
Orders received for compressors reached 55 billion krona in 2021, up 16% from the prior year.
This drove operating profits for the division to 11.9 billion krona, up 11% from the prior year, and accounted for 23.9% of the company’s total operating profits.
“The order intake for industrial compressors increased significantly compared to the previous year, with similar pace for large and smaller-sized compressors,” the company reported.
“Order volumes for gas and process compressors increased considerably compared to the previous year but were basically unchanged sequentially.”
During the quarter, Atlas Copco introduced a new range of oil-injected screw compressors, the GA-22-37 VSD, which is more energy efficient than previous VSD+ models.
“I’m proud to be able to present a very strong fourth quarter and a record result for the full year 2021,” said Atlas Copco President and CEO Mats Rahmström.
“Our whole organization have gone above and beyond to continuously adapt to changes and find new ways of working during the year.”
Moving into 2022, Atlas Copco expects near-term demand outlook to remain high and the overall order intake for its products and services compared to the previous year.
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