Alfa Laval Divests Its Engineering Activity for the Biopharm Industry.STOCKHOLM, Sweden -- Alfa Laval Alfa Laval AB is a Swedish company, founded in 1883 by Gustaf de Laval and Oscar Lamm. The company is a leading producer of specialized products and solutions used to heat, cool, separate and transport products such as oil, water, chemicals, beverages, foodstuffs, starch and (STO:ALFA) - a world leader in heat transfer, centrifugal centrifugal /cen·trif·u·gal/ (sen-trif´ah-gal) efferent (1). cen·trif·u·gal adj. 1. Moving or directed away from a center or axis. 2. separation and fluid handling - has taken the strategic decision to divest To deprive or take away. Divest is usually used in reference to the relinquishment of authority, power, property, or title. If, for example, an individual is disinherited, he or she is divested of the right to inherit money. its engineering and validation services for the biopharm industry. The company is divesting this activity through a purchase agreement with the Management of this activity. The primary reason for divesting the engineering activity for the biopharm industry, which comprises the offering of engineering and validation services, is the limited connection to Alfa Laval's core business of process solutions and heat transfer, separation and fluid handling products. The divestment is not anticipated to have any negative impact on Alfa Laval's Life Science activity. The turnover of the divested activity is slightly more than MSEK MSEK Meyer, Suozzi, English & Klein (New York law firm) MSEK Million Swedish Kroner 100 and it employs approximately 110 people. The divestment will cause a non-recurring charge to the profit and loss statement in the fourth quarter 2006 of MSEK 120, of which MSEK 40 are direct costs connected with the divestment. The remaining part is a write-off of goodwill. The transaction is estimated to be finalized as per December 29, 2006. About Alfa Laval Alfa Laval is a leading global provider of specialized products and engineering solutions based on its key technologies of heat transfer, separation and fluid handling. The company's equipment, systems and services are dedicated to assisting customers in optimizing the performance of their processes. The solutions help them to heat, cool, separate and transport products in industries that produce food and beverages F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. , chemicals and petrochemicals, pharmaceuticals, starch, sugar and ethanol. Alfa Laval's products are also used in power plants, aboard ships, in the mechanical engineering industry, in the mining industry and for wastewater treatment, as well as for comfort climate and refrigeration refrigeration, process for drawing heat from substances to lower their temperature, often for purposes of preservation. Refrigeration in its modern, portable form also depends on insulating materials that are thin yet effective. applications. Alfa Laval's worldwide organization works closely with customers in nearly 100 countries to help them stay ahead in the global arena. Alfa Laval is listed on the Nordic Exchange, Nordic Large Cap, and, in 2005, posted annual sales of about SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 16.5 billion (approx. 1.8 billion euros). The company has some 10,000 employees. www.alfalalval.com This information was brought to you by Waymaker http://www.waymaker.net |
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