GEA acquires Mashimpeks
27. September 2010 With the acquisition of the Russian company Mashimpeks Ltd., GEA Group is continuing its successful growth strategy in the BRIC countries. For more than a decade, Mashimpeks has sold and assembled GEA heat exchangers in Russia.
The company’s customers are mostly in the food, oil and gas, power, and HVAC industries. In addition to its headquarters in Moscow, Mashimpeks has well-established sales and service offices throughout the country. The activity will continue under the name GEA Mashimpeks within the segment GEA Heat Exchangers. The acquisition is subject to the approval by the relevant governmental authorities in Russia.
“This new acquisition brings us the opportunity to expand our heat exchanger business in Russia through Mashimpeks’ sales and service network,” said Jörg Jeliniewski, president of the GEA Heat Exchangers Segment.
“We look forward to strengthening our long and successful business partnership with GEA, and becoming a part of this international group. The broad product portfolio of heat exchangers in the GEA Heat Exchangers Segment is the ideal foundation for us to expand in the Eastern European markets,” commented Valery Kravtsov, CEO of Mashimpeks Ltd.
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