IDEX Corporation announced today that it has entered into a definitive agreement to acquire SFC KOENIG AG, a global leader in the manufacturing of metal–to–metal seal and flow control solutions serving a variety of industries, for cash consideration based on an enterprise value of €217 million, subject to customary post–closing adjustments.
SFC KOENIG, headquartered in Dietikon, Switzerland, produces highly engineered expanders and check valves for critical applications across the transportation, hydraulic, aviation and medical markets.
With additional locations in Germany, the United States and China, SFC KOENIG will operate as a part of the sealing solutions platform within IDEX’s Health and Science Technologies Segment. The transaction is expected to close in approximately 30 to 45 days, subject to regulatory approvals and customary closing conditions.
Commenting on the transaction, IDEX Chairman and Chief Executive Officer Andy Silvernail stated, “SFC KOENIG’s highly engineered content and deep customer relationships are an excellent fit with the IDEX operating model, and the acquisition of SFC aligns nicely with our strategic initiative to pursue acquisition opportunities in the highly engineered sealing solutions space. We look forward to having SFC KOENIG become part of the IDEX sealing solutions platform.”
Source: IDEX
INEOS Styrolution, the global leader in styrenics, has today announced the official opening of a new world-scale ABS[1] facility located in Ningbo, China, together with its joint venture partner SINOPEC. The facility has an annual nameplate capacity of 600,000 tonnes.
The merger of Röhm’s Acrylic Products business unit and SABIC’s Functional Forms business has resulted in the formation of Polyvantis. This new company will offer extruded products in the forms film, sheet, pipe and rod for markets that include building and construction, transportation and aviation, electrical and electronics, automotive and home and garden.
Abu Dhabi National Oil Co. (Adnoc) is considering plans to acquire upstream oil and gas company Wintershall DEA, an affiliate of BASF SE, according to a Bloomberg report citing people with knowledge of the matter. A deal to acquire Wintershall DEA could be worth more than €10 billion, the report said. BASF and Adnoc declined to comment on the report.
