Energy and environmental technology group Opcon has bought the remaining 25 per cent of shares in Saxlund International GmbH, meaning the firm is now under its ownership.
This acquisition will aim to make it simpler for Opcon to expand in the burgeoning European market and boost integration within its work with renewable energy and flue accessories.
The purchase price is roughly €3.8 million (£2.92 million) and the acquisition was financed via an advance payment of the guaranteed capital in Opcon's existing preferential share issue.
Rolf Hasselstrom, president and chief executive officer of Opcon, said: "This acquisition is a further step in our work aimed at creating a stronger international organisation that can offer a wider product portfolio quoting for, and performing, major projects."
Saxlund International is anticipated to capitalise on the transformation of Germany's energy sector, which has been brought on by the government's decision to decommission nuclear energy.
In addition, the firm expects strong global growth opportunities in its sludge handling equipment for treatment plants.
Opcon acquires 25% of Saxlund International
October 05, 2011