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Valco Group is divesting Valco Valves & Automation to Rotork Overseas Limited |
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Wednesday, 29 June 2011 14:00 |
Valco Group AS has signed a Share Purchase Agreement with Rotork Overseas Limited, for Rotork´s acquisition of 100% of the shares of Valvo Valves & Automation AS. The transaction was completed on 10th June 2011.
Valco Valves & Automation will continue its operation from Ågotnes outside of Bergen, and will be further strengthened through the new ownership of Rotork to continue to serve its customers in the Norwegian market.
For further information, contact
Mr. Jørn-Inge Throndsen, General Manager, Valco Group Norway, +47 906 85 336, or e-mail
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About Valco Group
Valco Group (former Flowtech Division of Technor) is producing and providing industrial valves for a wide range of industrial applications. The head office is located in Stavanger, Norway. Valco Group is a part of AT Group AS which is owned by Private equity investor HitecVision (see www.Hitecvision.com).
The Group has one operational company in Norway (Westad Industri AS) and two operational companies in France (SNRI SAS and Valco Valves Services SAS). The Group revenue in 2010 was approximately 400 MNOK. The Group has about 360 employees. Valco Group have valves and related products and services for applications worldwide within Marine sector, Oil & Gas upstream, Oil & Gas downstream and Energy & Industry. Valco Group’s product portfolio contains strong and well established valve brands from in-house production as well as provision of third party products. Our experience has demonstrated our capability to handle the combination of high pressure and low temperatures. We are also involved in providing products which covers sour services as well as any type of applications where product quality matters. Over the last few years substantial investments in production equipment has been allocated to our facilities in Norway and France. These have been justified by our ambitions to grow our business in the European home market as well as maintain and expand our business on the global market place. Restructuring and repositioning is our every day topic, as we are looking forward and taking full advantage on demonstrated performance within different branches of the energy sector. For further information – see www.valcogroup.no
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