Sector News

Krones acquires 90% stake in Ampco Pumps

April 22, 2023
Energy & Chemical Value Chain

German packaging and bottling machine manufacturer, Krones, has acquired a 90% stake in US-based company, Ampco Pumps.

Ampco Pumps supplies sanitary pumps and applied products – such as mixing and blending equipment – to the food, beverage, dairy processing, personal care and pharmaceuticals markets.

Current Ampco management will remain and will continue to hold 10% of the shares of Ampco – Krones has the option to buy the remaining 10% share in the future.

In a statement, Krones said: “The transaction will increase the profitability margin of the ‘Process Technology’ segment as well as the group margin of Krones”. In the 2022 fiscal year, Ampco Pumps generated revenue of approximately $50 million, with a “high EBITDA margin”.

The acquisition is a major step in expanding the components business of Krones Processing. The company states that “with Ampco Pumps and Evoguard Valve Technology, Krones has now a broad portfolio of all key components for the processing technology market”.

The transaction is subject to approval under the relevant antitrust legislation. Krones expects the transaction to be completed within the first half of 2023.

Financial terms of the deal were not disclosed.

By Phoebe Fraser


comments closed

Related News

May 17, 2024

Italian Treasury divests 2.8% stake in Eni for €1.4bn

Energy & Chemical Value Chain

Italy’s Treasury has sold a 2.8% stake in oil and gas company Eni, raising approximately €1.4bn. Despite this reduction, the Italian Government will own a third of Eni, with a combined stake of more than 30% held between the Treasury and state lender Cassa Depositi e Prestiti, which owns another 28.5% stake.

May 17, 2024

Umicore announces CEO succession

Energy & Chemical Value Chain

Umicore announces the appointment of Bart Sap as Chief Executive Officer, effective May 16th. He will succeed Mathias Miedreich who has decided to step down, in mutual agreement with the Supervisory Board. Bart Sap joined Umicore in 2004 and has been the Executive Vice President Catalysis since March 2021.

May 17, 2024

MOL Inaugurates €1.3 Billion Polyols Complex in Hungary

Energy & Chemical Value Chain

Hungarian energy and petrochemicals group MOL has inaugurated its €1.3 billion polyol complex in Tiszaújváros, Hungary, with a capacity of around 200,000 t/y of polyol, a widely used plastic raw material. According to MOL, the commissioning is a significant milestone, as it is the only company in Hungary and Central and Eastern Europe that covers the entire value chain from crude oil processing to polyol production.

How can we help you?

We're easy to reach