Burckhardt Compression Purchases Global Compressor Business from the Japan Steel Works
Burckhardt Compression is strengthening its market presence and acquiring the global compressor business from The Japan Steel Works Ltd., abbreviated JSW. JSW is a highly diversified manufacturer of steel, power-plant equipment and industrial machinery and generated overall sales of CHF 1.9 billion in 2018. Approximately 1-2% of the overall sales is estimated to be generated in the compressor business.
Burckhardt Compression is purchasing the global compressor business of The Japan Steel Works Ltd. whose headquarters are located in Tokyo. JSW is listed on the Japanese stock exchange. Burckhardt Compression (Japan) Ltd, headquartered in Yokohama, will assume responsibility for the local customer relationship management.
Further expansion
With the acquisition of the compressor business from JSW, Burckhardt Compression continues to expand its market reach and its product portfolio. Marcel Pawlicek, CEO Burckhardt Compression: “Burckhardt Compression is building on its market leadership in the compressor business and expanding its presence in Japan, a key market, with this acquisition.”
Both parties agreed not to disclose any details of the acquisition price. The acquisition agreement was signed on March 4, 2020. The closing of the transaction is expected to occur end of March 2020.
Further information:
Marcel Pawlicek, CEO
Tel.: +41 52 262 55 00
marcel.pawlicek@burckhardtcompression.com
About Burckhardt Compression
Burckhardt Compression is the worldwide market leader for reciprocating compressor systems and the only manufacturer and service provider that covers a full range of reciprocating compressor technologies and services. Its customized compressor systems are used in the upstream oil & gas, gas transport and storage, refinery, chemical, petrochemical and industrial gas sectors. Burckhardt Compression’s leading technology, high-quality compressor components and the full range of services help customers to minimize the life cycle costs of their reciprocating compressor systems around the world. Since 175 years its highly skilled workforce has crafted superior solutions and set the benchmark in the gas compression industry.
SIX Swiss Exchange: BCHN
For further information please visit www.burckhardtcompression.com
About The Japan Steel Works Ltd.
The Japan Steel Works was founded in 1907 as a joint venture to produce domestic weapons and later to become a major steel manufacturing center. After World War II, the company turned its sophisticated technologies and considerable experience to meeting peacetime needs. Continuing to produce high-quality steel, it developed machinery making use of this steel and endeavored to open up new business fields. In addition to heavy and chemical industries such as electric power, steel, shipbuilding, and petrochemicals, the company broadened into areas from automobiles to electrical machinery and information equipment, earning a worldwide reputation as an integrated producer of steel materials and machinery.
Today, having grown into a comprehensive materials provider and manufacturer of mechatronics products, JSW is meeting society's needs at the forefront. In the steel and energy products business, the company is serving the needs of the energy industry in areas such as electrical power generation, oil refining and natural gas. In the industrial machinery products business, JSW supplies equipment for manufacturing and processing plastic materials, along with a diverse range of products in areas from information technology to defense.
JPX Japan Exchange Group: 56310
For further information please visit www.jsw.co.jp
