Business Services Industry
Camfil Farr sells US-based engine division in SEK140m deal
Nordic Business Report, May 24, 2002
NORDIC BUSINESS REPORT-24 May 2002-Camfil Farr sells US-based engine division in SEK140m deal (C)1994-2002 M2 COMMUNICATIONS LTD http://www.m2.com
The Swedish-American filters group Camfil Farr has sold its US-based engine division to the US company Parker Hannifin for approximately SEK140m in shares and cash.
The engine division produces air-intake filters for diesel-powered fire trucks, buses, heavy-duty off-road equipment, marine applications, mining and power generation. It reported sales of approximately USD15m in 2001.
"The transaction is part of our strategic planning," commented Alan O'Connell, CEO of Camfil Farr. "It will allow us to concentrate on our core business and direct our resources to where they are needed most."
Camfil Farr is 30% owned by the Swedish private equity company Ratos.
((Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com))
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