2012-06-22 15:19:37 - Colfax Corporation announces acquisition of 91% interest in Soldex S.A
Colfax Corporation, a diversified global manufacturing and engineering company, today announced the acquisition of the 91% interest in Soldex S.A. held by Inversiones Breca S.A. and its affiliates. The transaction values Soldex S.A. at $235 million, including the assumption of debt.With plants in Lima Peru and Bogota Colombia, Soldex is the pre-eminent supplier of welding products to customers along South America´s fast-growing Pacific coast. The acquisition positions Colfax´s ESAB division as the clear leader in South America, with a pre-eminent position in every country market, and further increases its exposure to the energy and natural resources sectors.Steve Simms, Colfax President and Chief Executive Officer, said, "We are excited to add Soldex to our large and growing South American welding products
business. This acquisition reflects our continued commitment to expanding Colfax´s already-strong position in emerging markets, and in sectors with good long-term growth potential."Clay H. Kiefaber, ESAB President and Chief Executive Officer, added "We are also delighted to strengthen the ESAB team with Soldex´s talented leadership, and look forward to working with them to leverage their successful approaches throughout or company.Follow us on Twitter @CandMResearch
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