Regulated information 2 September 2011, 17:00.Hamon completes the acquisition of Deltak
Hamon is pleased to announce that it has completed on 31 August 2011 the previously announced
acquisition of Deltak’s operating assets.Deltak, with 2010 revenues in excess of USD 37.7 million, is a long-standing leader in the design and construction of waste heat recovery solutions and heat recovery steam generators (HRSGs) for the global power and process industries. Since its inception in 1972, Deltak has developed a blue chip roster of customers that rely on Deltak’s innovative solutions to meet their energy needs. With over1,500 boilers installed in more than 40 countries, Deltak is highly regarded for performance and durability in industrial heat recovery applications. It has approximately 140 employees and a wholly- owned fabrication facility in the United States.This acquisition will create significant value for the Hamon Group, which is already recognized as a world-leading supplier of cooling systems, air pollution control systems, process heat exchangers and chimneys. Synergies will be exploited as the customers are the same as those of Hamon. Projects are quite similar, with comparable activities in the added-value chain: importance of thermal and mechanical design, project management, manufacturing, purchasing, on-site erection and customer service.This acquisition will allow the Hamon Group to be more active in the combined cycle power industry (gas-fired power generation), which should grow significantly in the near future. Hamon expects that Deltak will already contribute positively to its 2011 consolidated result.For all additional information
The Hamon Group is a world player in engineering & contracting (design, installation and project management). Its activities include the design, the manufacturing of critical components, the installation and the after-sale services of cooling systems, process heat exchangers, air pollution control (APC) systems and chimneys, used in power generation, oil & gas and other heavy industries like metallurgy, glass, chemicals.