TPI July 2011

news business & market

Alfa Laval acquires heat exchanger company – Olmi SpA

Alfa Laval’s equipment, systems and services are dedicated to assisting customers in optimising the performance of their processes. The solutions help them to heat, cool, separate and transport products in industries that produce food and beverages, chemicals and petrochemicals, pharmaceuticals, starch, sugar and ethanol. Its 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 applications.

Olmi has sales of around SEK 700mn, with approximately 240 employees working in R&D, manufacturing and sales. The transaction was completed based on an enterprise value of approximately SEK 500mn, and the purchase agreement includes a limited earn-out opportunity for the seller. The intention is to integrate Olmi into Alfa Laval as a competence centre based on its unique know-how. Olmi SpA has been a family owned business since 1933, with offices and manufacturing unit located in Suisio near Bergamo in northern Italy. Named after Roland Tibbetts, who was instrumental in developing the SBIR programme, the Tibbetts award is presented annually to awardees based on economic impact of their technological innovation, benefit to federal R&D needs, increased commercialisation of federal needs and diverse participation. Due to budget constraints, the award had not been issued in three years. Of the thousands of firms participating in the SBIR programme, only 44 companies were recognised with this award. Dr Jon Zuo, founder and president of ACT, and Dr William Anderson, chief engineer, accepted the award at a ceremony in Washington, DC on 15 February. Administration officials including Karen Mills, SBA administrator, and Aneesh Chopra, chief technology officer of the United States, addressed the award ceremony. A private reception was later held at the White House. “This is a proud day not only for Advanced Cooling Technologies, Inc, but also for the City of Lancaster,” said Sean Greene, SBA’s associate administrator for investment and senior

Alfa Laval, a specialist in heat transfer, centrifugal separation and fluid handling, has acquired Italian company Olmi SpA, which designs and manufactures shell & tube heat exchangers and air coolers for niche applications in the petrochemical, power and oil & gas industries. Lars Renström, president and CEO of the Alfa Laval Group, commented, “The acquisition of Olmi will substantially strengthen our platform to expand into the high pressure, high temperature heat exchanger market. At the same time, Alfa Laval’s strong global presence allows us to take the offering to new geographical markets and customers.” Advanced Cooling Technologies, Inc (ACT), a thermal solutions provider, has received a Tibbetts Award from the Small Business Administration (SBA). SBA presents the awards nationally to small companies and individuals that have advanced technical innovation and economic growth through its Small Business Innovation Research (SBIR) programme. ACT’s Tibbetts Award recognises the company’s work in meeting the US government’s needs for advanced thermal management systems and commercialising the technologies in diverse applications. ACT was specifically noted for its development of constant conductance heat pipe products and technology. The now multi-million dollar business initiated from a 2005 SBIR grant to investigate heat pipe heat exchangers for manned spacecraft. ACT has successfully marketed this technology in the aerospace/satellite industry and is now an industry-wide recognised supplier of these critical thermal control components.

Alfa Laval Group – Sweden www.alfalaval.com

National award for innovation and economic growth

adviser for innovation. “Companies like ACT represent the best in American ingenuity.” Profitable since inception in 2003, ACT has been recognised as one of the fastest 50 growing companies in Central Pennsylvania in three of the last four years. ACT is a developer and manufacturer of advanced heat pipes, pumped liquid and two-phase loops, and thermal storage devices. The company specialises in technology development and custom thermal product design and manufacturing, and its technologies have been used in applications from spacecraft thermal control to catalytic reactor cooling to medical surgery temperature control. ACT’s quality system is certified to ISO9001:2008 and AS9100-B. The company currently serves customers worldwide in aerospace, military, com- mercial, and government R&D markets.

Advanced Cooling Technologies, Inc – USA

info@1-act.com www.1-act.com

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July 2011 Tube Products International