As of 30 March 2012, PMC Group AB (PMC) has entered into an agreement to purchase the operations of Hydranor AS of Norway.
The transaction is subject to approval from Norwegian competition authority.
This new company's name will be PMC Hydranor AS. Hydranor is a leading Nordic supplier of hydraulic high-pressure valves and manifold blocks for the international offshore & marine sector. The company is based in Kongsberg, Norway, had sales of NOK 75 m in 2011 and 50 employees.
"Hydranor brings PMC unique know-how and extends our customer offering, not just in the Nordics, but also our growth markets in Asia," commented Björn Gundersen, President of PMC Servi AS, who heads up PMC's activities in Norway and the Offshore & Marine customer area.
"This acquisition is part of PMC's strategy of growing on our Nordic home market, and following our customers into the world. As part of this strategy, in late-2011, PMC established a new enterprise in Poland, and earlier in 2011, acquired PMC Winstar in India, which is additional to previous start-ups in China and the US," added Mikael Andersson, President of PMC.
For more information, please contact:
Björn Gundersen, President of PMC Servi AS, tel + 47 916 00 731 or
Mikael Andersson, President and CEO of PMC Group AB, tel + 46 (0)709 42 16 15