Bilfinger Has Signed An Agreement To Acquire Johnson Screens
Bilfinger Water Technologies will become a leading global provider in the water and wastewater business.
Engineering and services group Bilfinger has signed an agreement to acquire filtration specialists Johnson Screens. Combining these activities with activities that already exist in the group leads to the creation of a leading global supplier of components and services in nearly all areas of water and wastewater technology. Johnson Screens was founded in 1904 in Minnesota, USA. It generates an annual output volume of about €160M with 1,200 employees and achieves attractive margins. The acquisition allows Bilfinger to not only double its output volume in the water and wastewater sector to over €300M, but also to further increase the strong profitability in this sector.
At eleven locations around the world, Johnson Screens manufactures screens and components for the separation of solids from liquids and gases and provides associated services. The products are used in water and waste water, refining and petrochemical, food and beverage processing, pulp & paper processing, mineral processing and architectural industries. The company's most important markets are North America, Europe and the Asia-Pacific region.
Weatherford International Ltd., a global leader in oil and natural gas equipment and services, is focusing on its core business and is therefore parting with its water technology activities. The two parties have agreed not to disclose details of the purchase price.The acquisition is subject to approval from the relevant antitrust authorities.The management of Johnson Screens welcomes the acquisition and will remain with the company.
Upon completion of the acquisition of Johnson Screens, Bilfinger will gain access to new markets and manufacturing capacities in important growth regions. Both the product lines and the geographical presence ideally complement existing Group activities, leading to synergies in technology and sales.
Bilfinger SE is a leading international engineering and services group. With the comprehensive technological expertise and experience of its more than 65,000 employees, the company offers customised services for industrial facilities, power plants, real estate and infrastructure. Bilfinger generates an annual output volume of approximately €8.5B in its Industrial, Building and Facility, Construction and Concessions business segments. For more information, visit http://www.bilfinger.com/en/press/.
SOURCE: Bilfinger SE