STOCKHOLM, Sweden, January 15, 2002 (PRIMEZONE) -- Munters acquires the American competitor Glacier-Cor and further strengthens its position in evaporative cooling. Glacier-Cor is one of the world's largest manufacturers of components in this area with sales of over US$5 million in 2001. Munters is the world leader.
Glacier-Cor is based outside Chicago and manufactures components for evaporative cooling, which are used in climate control systems for Various applications including the poultry industry. Glacier-Cor is a part of Pactiv Corporation, a producer of specialty packaging products which is listed on the New York Stock Exchange.
The acquisition includes manufacturing processes and equipment, Intellectual property, including brands and ongoing activities. A limited number of Glacier-Cor's key personnel will be employed by Munters.
"The Glacier-Cor acquisition extends our customer base and the range of evaporative cooling solutions we offer to various segments, such as power and poultry industry," saID Mike McDonald, President of Munters Corporation, USA.
The acquisition price is US$1.9 million and does not contain any goodwill. The acquisition will be consolidated in Munters from January 2002. A positive, though marginal, effect on the results is expected this year.
Munters is the world leader in humidity control with products and services for dehumidification, humidification and cooling of air. Customers are found in a wide range of segments, the most important being the insurance, utilities, food, pharmaceutical and electronics industries. Manufacturing and sales are carried out via the Group's own companies in more than 25 countries in Europe, the Americas and Asia. The Group has 2,600 employees and net sales of SEK 3,800 million. Munters is listed on Stockholmsborsen, the Stockholm Stock Exchange. For more information see www.munters.com
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