With annual sales of about US$14m generated principally in the United States, the operations added through this purchase representege a niche-filling opportunity for De Pere, Wisconsin-based Megtec Systems, which recorded 2005 global sales of US$217.3m.
Commenting on the transaction, Mohit Uberoi, president of Megtec Systems, says, "This acquisition adds substantially to our presence in the gravure printing and chemical, petrochemical and pharmaceutical industries, and it brings a well established and highly regarded line of equipment under the Megtec umbrella.
"Importantly, the technologies resident at the acquired operations add a new facet to our capabilities in pollution control systems. We can now offer customers not only emission abatement but also solvent recovery."
Megtec Systems has major operations in the US, France, Sweden, Germany and China and maintains a worldwide sales, service and spare parts support network. Megrtec Systems manufactures paper handling systems, air flotation dryers and air emission control equipment. The company serves the printing industry and other industrial markets, including coating, converting, wood products, chemicals, and automotive.
The company maintains a representative office in Melbourne, headed up by Kenneth Jenquin.
Megtec Systems is a unit of New York-based Sequa Corporation, a US$2b diversified supplier of high technology manufacturing services. Sequa’s largest operation, Chromalloy Gas Turbine, serves the commercial airline aftermarket with advanced repairs and new manufactured parts for jet engines. Other principal Sequa operations include: Precoat Metals, which coats coils of metal, primarily for the building products market; ARC Automotive and Casco Products, which supply the automotive industry worldwide; and Warwick International, a United Kingdom-based producer of specialty chemical additives for the detergent industry.