Ornago (MB), October 1st, 2015 – VRV S.p.A., leader in the design and engineering of specialty equipment for the chemical, petrochemical and energy industry, announces, on the date hereof, to have completed the acquisition of 100% of the corporate capital of Koch Heat Transfer Company S.r.l./IMB Industrie Meccaniche di Bagnolo.
This transaction is part of a strategic diversification project achieved through the internationalization and acquisition of technologies enabling the VRV Group to constantly grow on the markets, in particular in the Energy & Petrochemical sector.
“IMB offers a great opportunity to invest in an excellent company, which has a consolidated background in the design and manufacturing of Shell & Tube Heat Exchangers and Reactors, under important licensed technologies.
Over the last three years, we have analyzed several investment opportunities in the sector, never coming to the right balance as to product, capability, strategy and geographical diversification; Koch Heat Transfer / IMB combines all these characteristics – declared Mr. Fabio Villa, Managing Director of VRV S.p.A.”.
“The Koch Heat Transfer Group has adopted when deciding to leave the Lummus Advanced Breech-Lock Exchanger™ product line with the sale of Koch Heat Transfer S.r.l.,” said Joel Williamson, President of Koch Heat Transfer.“This will allow us to focus on our strong brands and new product lines. We are glad of VRV’s acquisition of our assets in Bagnolo. It is good for the market, for both companies and for Bagnolo.”
Financial details shall not be disclosed.
About The VRV Group
VRV is a Group of companies originated in Milan and Monza Brianza, owned by the Spada family, being present on the market since 1956, specialized in the design and manufacture of equipment and plants for the energy, petrochemical, cryogenic and LNG industries, with manufacturing facilities in Italy, France and India.
The Group has always been ready to capitalize on growth opportunities, be it in Europe, where VRV is headquartered, or Asia where the newest production site is based.
The philosophy that the Group has always stood by is continuous investment and commitment, to constantly improve products, services and processes.
For more information visit www.vrv.com
About Koch Heat Transfer
Koch Heat Transfer Group companies design and manufacture specialty heat exchangers for a global customer base. These companies have their production facilities in North America, Europe and Asia either through company-owned facilities or in association with local fabricators that can manufacture according to all major design codes. Koch Heat Transfer Group is a part of Koch Chemical Technology Group LLC. For more information, visit www.kochheattransfer.com