Lamiflex is known for being one of the leading Brazilian manufacturers of high-speed disc couplings and providing engineering solutions for several industries, including oil, gas and power generation.
"Expanding our reach in emerging geographies is a key component of Altra's strategic plan, and the acquisition of Lamiflex provides us with an important growth platform in Brazil," said Carl Christenson, Altra's president and CEO. "Lamiflex is a well-known supplier of high-quality coupling products to the Brazilian marketplace. The acquisition will provide Lamiflex with the resources required to continue its growth initiatives while, over time, serving as a launching platform for several other Altra businesses."
Acquiring Lamiflex is a part of Altra's plan to acquire assets in specific regions that offer significant long-term growth profiles. Brazil is one of the quickly emerging world economies identified by the BRIC acronym, along with Russia, India and China. Altra already has facilities in Pune, India, and in the Chinese cities of Shenzhen, Hong Kong, Shanghai and Beijing.
Altra also recently announced partial redemption of more than 8 percent of Senior Secured Notes from The Bank of New York Mellon Trust Company.
Post A Comment:
0 comments so far,add yours