Mafi-Trench Corporation, the Santa Maria-based manufacturer of hydrocarbon turboexpanders, has announced the signing of a definitive agreement to become part of the Atlas Copco Gas and Process Division, with the deal expected to be completed by the end of the third quarter.
Sweden-based Atlas Copco, a global leader in industrial productivity solutions, announced the acquisition in late July and will now provide its extensive financial resources, comprehensive R&D infrastructure and global market presence.
Jim Reilly, general manager of Mafi-Trench, commented, $quot;This acquisition is a move that will facilitate Mafi-Trench's long-term growth. The sale of Mafi-Trench Corporation benefits all parties involved - from customers to employees - while solidifying and expanding Atlas Copco's presence in the upstream and downstream markets worldwide.$quot;
Speaking of the acquisition, president of Atlas Copco Gas and Process Dre Schmitz said, $quot;The integration of Mafi-Trench into the Atlas Copco Gas and Process Division completes our product range serving the oil and gas value chain.$quot;
Mafi-Trench will operate as Mafi-Trench Company LLC and retain its established brand, with its company offices, manufacturing facilities and staff of 120 employees remaining in Santa Maria.