The Linde Group has sold its valve production facility, MAPAG Valves GmbH of Germany, to Finland’s international technology corporation Metso at an enterprise value of €36m, with the contract signed and set to enter into effect on approval from the relevant anti-trust authorities.
With the divestiture of this non-core activity, Linde’s Engineering Division further focuses on its core competencies. MAPAG is a specialist in producing high performance butterfly valves for different types of plants in the petrochemical, air separation and liquefied natural gas (LNG) industry.
The newly acquired company employs a staff of around 100 and achieved sales of approximately €31m in the 2007 financial year.
The Linde Group is a world leading gases and engineering company with more than 50,000 employees working in around 100 countries worldwide, and in the 2007 financial year achieved sales of €12.3bn. The company provided an insight into its business model in its recent interview, in the May edition of gasworld magazine.