Mutares completes the acquisition of Balcke-Dürr

Mutares AG (ISIN: DE000A0SMSH2) has completed the acquisition of the international equipment manufacturer Balcke-Dürr from SPX Corporation.

Balcke-Dürr manufactures components for energy efficiency and the reduction of emissions in the chemical and power generating industry. The company is based in Dusseldorf, Germany, and has further engineering and production sites in Germany, Italy, Poland, Hungary, China and India. In 2015, it generated revenues of EUR 142m with 650 employees.

The future strategy for Balcke-Dürr is based on the development of its market position with the goal to access new international customers and industries. Balcke-Dürr will be part of Mutares’ engineering & technology segment in which Mutares experiences attractive market dynamics. Hence, Mutares will further invest in this segment and is convinced that Balcke-Dürr will be an ideal platform investment being a renowned brand in the industry.

Company profile of SPX

Based in Charlotte, North Carolina, SPX Corporation is a leading supplier of highly engineered HVAC products, detection and measurement technologies and power equipment. With operations in about 20 countries, SPX Corporation had approximately $1.7 billion in annual revenue in 2015 and approximately 6,000 employees worldwide. SPX Corporation is listed on the New York Stock Exchange under the ticker symbol “SPXC.”  For more information, please visit www.spx.com.