KSB Acquires South Korean Valve Manufacturer
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Press release date: March 24, 2011
FRANKENTHAL, Germany, March 24, 2011 - 24 March 2011 saw KSB buy the South Korean valve specialist Seres Co. Ltd. The company was founded in 1982 and has a total workforce of over 130 employed at its Seoul headquarters and its production site in Busan, South Korea's second biggest city.
The acquisition of Seil Seres offers KSB good prospects for successful growth in the East Asian marine valve market. The leading shipyards for the construction of large-sized merchant ships are located in China, Japan and South Korea. So far, KSB has primarily equipped ships with cryogenic valves for liquefied natural gas transport, an application for which KSB is already the leading supplier. With the products made by the South Korean company, KSB is able to expand its range of marine valves and associated components. Seil Seres' production range includes cryogenic ball valves and needle valves alongside valve control and monitoring equipment. Hydraulic and pneumatic actuators are also manufactured by the Korean company.
The acquisition is part of the Group strategy aimed at specifically strengthening KSB's position in promising business lines. In addition to pumps, valves are the German manufacturer's second main product; automation products for the closed and open loop control and the monitoring of pumps and valves are also steadily gaining in importance.
The KSB Group
KSB is one of the world's leading manufacturers of pumps, valves and related systems for industrial applications and building services, for water and waste water management and for the energy and hydrotransport sectors. The Frankenthal (Germany) based Group has a presence on all continents with its own sales and marketing organisations, manufacturing facilities and service operations. More than 14,500 employees generate a total sales volume of almost 2 billion euros.
Source: KSB AG
Editor: KSB Aktiengesellschaft, Communications (A-CC), 67225 Frankenthal; Contact, Ullrich Bingenheimer, Tel. +49-6233-86-2138, Fax 3456, firstname.lastname@example.org