Caterpillar Completes Acquisition Of TBM
17 June 2004 10:56
Caterpillar inc. Completes Acquisition of Turbomach SA
Peoria, Illinois – Caterpillar Inc. (nyse: Cat) announced today it has completed the acquisition of Turbomach SA, a Swiss packager of industrial gas turbines and related systems. Caterpillar publicly announced its intent to acquire the company earlier this year.
The transaction was executed through the insolvency administrator for Turbomach's previous owner, Borsig Energy Gmbh i.i., a group company of Babcock Borsig AG.
For 20 years, Turbomach's power generation packages have incorporated gas turbines manufactured by San Diego, California-based Solar Turbines Incorporated, a wholly owned subsidiary of Caterpillar Inc. Based in Riazzino, Switzerland, Turbomach has been purchasing solar gas turbine engines, packaging them and selling them as integrated systems into the industrial power generation market, along with providing aftermarket services and support.
Caterpillar has purchased the shares of turbomach s.a. and its subsidiaries, as well as the assets of Turbomach Gmbh. The Turbomach companies will continue to operate as wholly owned subsidiaries of Caterpillar. Financial terms of the agreement were not disclosed.
Peoria, Illinois – Caterpillar Inc. (nyse: Cat) announced today it has completed the acquisition of Turbomach SA, a Swiss packager of industrial gas turbines and related systems. Caterpillar publicly announced its intent to acquire the company earlier this year.
The transaction was executed through the insolvency administrator for Turbomach's previous owner, Borsig Energy Gmbh i.i., a group company of Babcock Borsig AG.
For 20 years, Turbomach's power generation packages have incorporated gas turbines manufactured by San Diego, California-based Solar Turbines Incorporated, a wholly owned subsidiary of Caterpillar Inc. Based in Riazzino, Switzerland, Turbomach has been purchasing solar gas turbine engines, packaging them and selling them as integrated systems into the industrial power generation market, along with providing aftermarket services and support.
Caterpillar has purchased the shares of turbomach s.a. and its subsidiaries, as well as the assets of Turbomach Gmbh. The Turbomach companies will continue to operate as wholly owned subsidiaries of Caterpillar. Financial terms of the agreement were not disclosed.
For more information on this company:
Turbomach - Gas and Steam Turbines Power Plants
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